With the recent announcement of former God of War art director Raf Grassetti joining Netflix to help develop its new original IP AAA game alongside Halo veteran Joseph Staten, we know that the streaming giant is ramping up its gaming offering since its launch of Netflix Games in November 2021. So far, Netflix has released 55 games and has unveiled plans to introduce 40 more games this year.
According to his personal Twitter and Instagram, Grassetti expressed his excitement to build a team and work with Joseph Staten, Jerry Edsall, and Chacko Sonny to bring a new world to life. His Instagram post garnered over 31k likes, drawing positive sentiments from netizens who expressed anticipation for the future work of the renowned game maker. Some users were surprised by Netflix’s investment in gaming.
Netflix’s decision to tap into the gaming industry may have surprised many global viewers, but industry players believe it is a strategic move to diversify its offerings and tap into new markets. Karlye Chan, director of programmatic and activation partnership at media agency Assembly, mentioned that with other over-the-top streaming services such as Disney+ and HBO focusing on localized in-house productions, Netflix’s entry into the gaming landscape extends its audience pool, which holds promising potential when combined with a strong monetization plan. Ranga Somanathan, former CEO of Omnicom Media Group, also believes that expanding into gaming will enrich the experience for current subscribers and attract younger customers to the platform.
However, Netflix has faced challenges recently, with decisions like introducing ads and cracking down on account sharing leading to a loss of subscribers. In the first quarter of 2022, the company lost 200,000 subscribers, followed by nearly a million in the second quarter. Therefore, gaming presents an opportunity for Netflix to grow its business and stay competitive amidst fierce competition. Penny Chow, managing director of Hong Kong and Taiwan at media agency Society, believes that turning to gaming can support Netflix’s long-term growth and help the company expand its offerings to attract and retain subscribers.
Exploring new revenue streams for long-term growth can be challenging, particularly in the competitive gaming market. Tim Durgan, VP of strategy and insights, APAC, at Assembly, emphasizes the need for time and a bit of luck to successfully navigate the gaming industry. Furthermore, gaming differs significantly from watching TV shows and movies, requiring active user engagement and interaction. Neal Chung Yee, head of studio at gamification agency Shadow Factory, expressed his expectation for more integration between games and shows on Netflix, highlighting the potential for an additive experience that builds upon both mediums.
To improve its gaming offerings and lure back subscribers, Netflix needs to focus on a few solid flagship brands in the gaming space. Durgan suggests that Netflix has achieved this in its current content, such as Stranger Things and Squid Game, and should aim to replicate this success in gaming. Connecting games to Netflix-owned franchises and creating spin-off games based on popular series could significantly increase the subscriber base and engagement. Antony Yiu, CEO of PHD HK, emphasizes the importance of tying games to movies, series, and intellectual properties that Netflix has created, as this would attract a larger audience and contribute to overnight subscriber growth.
Collaboration with renowned game developers, offering a diverse range of gaming genres, and regularly updating the gaming library with.
This news is based on marketing-interactive website.