Netflix is all-in on gaming, but its subscribers haven’t gotten the message yet.
The streaming giant is making gaming an increasingly central part of its offering as it seeks to reverse a recent slip in subscribers.
- The company has released 24 mobile titles, with plans to grow that figure to 50 by the end of the year.
- It acquired indie game developers Night School, Next Games, and Boss Fight Entertainment.
- However, only 1.7 million people – less than 1% of Netflix’ 221 million subscribers – engage with the company’s games on a daily basis, according to data from Apptopia obtained by CNBC.
- The games have been downloaded 23.3 million times.
The company has both ported over popular titles and developed original games.
Big Tech Competition
Netflix isn’t the only company growing its gaming library to compete for subscribers. Apple Arcade, launched in September 2019, now boasts over 200 titles.
Amazon’s Prime Gaming bundles games, in-game offerings, and a Twitch.tv subscription as part of Amazon Prime. Google provides access to hundreds of games through its Play Pass, and Meta has invested heavily in its Oculus Quest VR headset and platform.
Netflix lost nearly 1 million users from April to June, marking its second straight quarter with declining subscribers. The company earned $7.9 billion in the quarter, up 8.6% year-over-year.
