Updated News Around the World

Netflix searching for exec to lead video game push: report

Netflix has already held talks with several industry veterans in its push to find a video game executive
Netflix has already held talks with several industry veterans in its push to find a video game executive.

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.


Netflix puts ‘Fortnite’ in crosshairs as streaming wars heat up


© 2021 AFP

Citation:
Netflix searching for exec to lead video game push: report (2021, May 21)
retrieved 23 May 2021
from https://techxplore.com/news/2021-05-netflix-exec-video-game.html

This document is subject to copyright. Apart from any fair dealing for the purpose of private study or research, no
part may be reproduced without the written permission. The content is provided for information purposes only.

For all the latest Technology News Click Here 

 For the latest news and updates, follow us on Google News

Read original article here

Denial of responsibility! NewsUpdate is an automatic aggregator around the global media. All the content are available free on Internet. We have just arranged it in one platform for educational purpose only. In each content, the hyperlink to the primary source is specified. All trademarks belong to their rightful owners, all materials to their authors. If you are the owner of the content and do not want us to publish your materials on our website, please contact us by email – [email protected]. The content will be deleted within 24 hours.