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Thursday, June 1, 2023

Netflix has acquired Next Games for €65 million

Netflix is acquiring mobile game developer Next Games for €65 million, in an effort to expand its games library. In the past, the studio has developed titles based on Netflix’s biggest properties, including Stranger Things: Puzzle Tales and two ‘The Walking Dead’ games.

Next Games is Finland’s first publicly listed mobile game developer, specialising in popular entertainment franchises like books or television shows. The deal is being fulfilled as an all-cash share purchase, where each holder will receive €2.1. Closing is expected in the second quarter of 2022.

“Next Games has a seasoned management team and experience developing mobile games based on entertainment franchises, as well as solid operational capabilities,” said Michael Verdu, Vice President of Games at Netflix.

“We are thrilled that Next Games is joining Netflix as a core studio in a strategic region and key talent market, enhancing our internal game studio capabilities. Even though we have just begun in games, I am confident we will be able to develop a portfolio of world-class games that will delight our members around the world.”

Next Games has not clarified what kind of projects Netflix will be working on, but it has confirmed that none of the titles will feature advertisements or in-app purchases. Paying subscribers will be able to access all games, so they will receive similar treatment as their video streaming section.

In November 2021, Netflix entered the video game market when they introduced a dedicated row and tab where mobile users could play selected games. The catalogue only had five titles at the time, but has since partnered with major studios such as Riot Games to bring League of Legends: Hextech Mayhem and several other indies to the platform.

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