Netflix facing stiff competition going into video games
Netflix said it will expand its offers by launching more video games. As expected the presentation of the company’s second quarter report showed slower subscriber growth explained by saturated markets, fewer people forced to stay at home and increased competition in the home entertainment market.
For the second quarter, Netflix added 1.54 million customers while it added 10.1 million subscribers in the second quarter 2020.
The company had a boom during the peak of the pandemic with theatres closed and people locked up at home. With the increased vaccination the lock-down effect is fading. In the US and Canada, Netflix reported losing about 430,000 subscribers in the second quarter.
There has for some months been obvious that the company is going into video games to broaden its offerings. The company said the games would be available to subscribers at no extra charge. The initial focus will be on mobile games.
“We view gaming as another new content category for us, similar to our expansion into original films, animation and unscripted TV,” the company said in its letter to shareholders.
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