World-renowned streaming service Netflix is preparing producers to link video games into series content. Due to the problem of growing old and new members even more people stay at home from the epidemic But there are more new players in the market. That put the company’s stock at $531.10 on Tuesday.
with the problem of rapid slowdown of new customers After huge growth in 2020 from stay-at-home orders to curb the spread of COVID-19, in the US and Canada, Netflix lost about 430,000 subscriber revenue in the past two quarters. Although Netflix is in the process of negotiating deals with game companies. that will allow members to use it at no additional cost It focuses mainly on mobile game providers.
The video-streaming pioneer said it was in the early stages of expanding its video game offering, which would be made available to subscribers at no additional cost. The company will focus mainly on mobile games.
In a letter to shareholders, Greg Peters, Netflix’s chief operating officer and chief product officer, said: We see game content as another new content for us to expand into a wider variety of content such as animations, traditional TV shows and non-scripted TV shows. Even though we’ve had small efforts over the years, we firmly believe that customers still want more games they can participate in.
We’ll see Netflix’s efforts to create content related to video games such as “Stranger Things” and “The Dark Crystal: Age of Resistance.”
In addition, analysts consider That’s why Netflix struggles to keep its members on the platform as well as find new members. As a way of keeping the business alive, according to eMarketer, Netflix’s share of US revenue from streaming video subscriptions will drop to 30.8% by the end of 2021 from nearly 50% in 2018.
Jesse Cohen, senior analyst at Investing.com says Netflix is in a heated market share race. Without the accelerators to boost growth opportunities, it would be difficult for Netflix to survive.
The investment in the game It’s similar to investing in other subjects like podcasts or e-commerce. That is another opportunity to help retain customers to access the core services.
The netflix itself is expected. Going into the gaming business will help them add 3.5 million customers in July-September. Analysts expect 5.5 million new customers. In the second quarter, Netflix added 1.54 million new customers, beating the 1.04 million forecast, 209 million total subscribers. people at the end of June
With the situation of the spread of COVID-19 causing the company to adjust the new TV program because of the impact in the production of new content of the manufacturers As well as the entry into the streaming market, Walt Disney Co’s Disney+, AT&T Inc’s HBO Max, and summer blockbusters are back in theaters. Coming in as a formidable competitor, revenue for April-June was $2.97 per share. That was lower than the $3.16 average expected, and the easing of epidemic safety measures also drew people away from their homes and away from televisions.
Netflix is trying to push new seasons like “You,” “Money Heist,” and “The Witcher.”
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