May 21, 2021
Netflix searching for exec to lead video game push: report
Netflix is on the hunt for a senior executive to lead its push into the lucrative video game sector, tech publication The Information reported Friday.
The California-based company has already held talks with several industry veterans, the article said, quoting sources familiar with the matter.
The subscription-based video game service would be similar to Apple Arcade, which gives subscribers unlimited access to its selection of games.
As with movies and TV shows, Netflix would not show advertising alongside the games, The Information said.
Netflix's plans still appear to be embryonic, however, with the platform not yet having decided whether it will develop its own content or host games created by third parties.
With the global gaming market now exceeding $300 billion, according to an April study by consulting firm Accenture, Netflix's move would open a new and highly lucrative stream of revenue for the tech giant.
"We've continually expanded our offering—from series to documentaries, film, local language originals and reality TV," a Netflix spokesperson told AFP.
"Members also enjoy engaging more directly with stories they love—through interactive shows like 'Bandersnatch' and 'You v. Wild,' or games based on 'Stranger Things,' 'La Casa de Papel' and 'To All the Boys,'" the spokesperson said.
Netflix chief executive Reed Hastings has repeatedly emphasized that the company's main competitors are not just other big-name streamers like HBO, Hulu or Disney+ but include a variety of other online and mobile entertainment platforms.
"We compete so broadly," Hastings told analysts last October as he presented the company's quarterly earnings.
"We compete for time against TikTok and YouTube as well as HBO as well as Fortnite," he said.
© 2021 AFP