Netflix to build new gaming studio in Finland
Let the games begin! On Monday, Netflix announced its intention to add a gaming studio to its current "production and streaming powerhouse," CNN Business reports.
Amir Rahimi, the Netflix VP of Game Studios, revealed that the new studio will be "built from scratch" in Helsinki, Finland, and Marko Lastikka — formerly an executive at Zynga and Electronic Arts — will be the studio director. Rahimi explained that Helinski is also home to Next Games, which was acquired by the streamer earlier in the year as part of its ongoing push into gaming.
Netflix's product manager of mobile games, Sophia Yang, further said in a statement that the company will "continue to expand [its] mobile games catalog to span many genres and categories." Netflix is also working to "create game handles for a more personalized gameplay experience."
Subscribe to The Week
Escape your echo chamber. Get the facts behind the news, plus analysis from multiple perspectives.
Sign up for The Week's Free Newsletters
From our morning news briefing to a weekly Good News Newsletter, get the best of The Week delivered directly to your inbox.
From our morning news briefing to a weekly Good News Newsletter, get the best of The Week delivered directly to your inbox.
Tom Forte, a senior research analyst at D.A. Davidson, told CNN that Netflix is "a long-term thinker," noting that "their pivots [from] DVDs to streaming" are an example of how "they think long-term and they act long-term."
Netflix saw a big decline in subscriptions during the spring and summer months of 2022, losing "almost a million subscribers," BBC News reports. Making inroads into gaming will give Netflix an opportunity to build revenue off its preexisting franchises that are already popular, such as the series Stranger Things, CNN adds.
Create an account with the same email registered to your subscription to unlock access.
Sign up for Today's Best Articles in your inbox
A free daily email with the biggest news stories of the day – and the best features from TheWeek.com
Kelsee Majette has worked as a social media editor at The Week since 2022. In 2019, she got her start in local television as a digital producer and fill-in weather reporter at NTV News. Kelsee also co-produced a lifestyle talk show while working in Nebraska and later transitioned to 13News Now as a digital content producer.
-
Today's political cartoons - April 21, 2024
Cartoons Sunday's cartoons - devilish decrees, biblical blunders, and more
By The Week US Published
-
5 carefully selected cartoons about the Trump-Daniels jury selection process
Cartoons Artists take on a stress-free life, rare peers, and more
By The Week US Published
-
Loire Valley Lodges review: sleep, feast and revive in treetop luxury
The Week Recommends Forest hideaway offers chance to relax and reset in Michelin key-winning comfort
By Julia O'Driscoll, The Week UK Published
-
Empty-nest boomers aren't selling their big homes
Speed Read Most Americans 60 and older do not intend to move, according to a recent survey
By Peter Weber, The Week US Published
-
Brazil accuses Musk of 'disinformation campaign'
Speed Read A Brazilian Supreme Court judge has opened an inquiry into Elon Musk and X
By Rafi Schwartz, The Week US Published
-
Disney board fends off Peltz infiltration bid
Speed Read Disney CEO Bob Iger has defeated activist investor Nelson Peltz in a contentious proxy battle
By Rafi Schwartz, The Week US Published
-
Disney and DeSantis reach detente
Speed Read The Florida governor and Disney settle a yearslong litigation over control of the tourism district
By Peter Weber, The Week US Published
-
Visa and Mastercard agree to lower swipe fees
Speed Read The companies will cap the fees they charge businesses when customers use their credit cards
By Peter Weber, The Week US Published
-
Reddit IPO values social media site at $6.4 billion
Speed Read The company makes its public debut on the New York Stock Exchange
By Peter Weber, The Week US Published
-
Housing costs: the root of US economic malaise?
speed read Many voters are troubled by the housing affordability crisis
By Peter Weber, The Week US Published
-
Feds cap credit card late fees at $8
speed read The Consumer Financial Protection Bureau finalized a rule to save households an estimated $10 billion a year
By Peter Weber, The Week US Published