The video streaming platform is focusing on games for its first content production foray beyond films and TV shows.
Netflix has recently hired a Facebook executive – Mike Verdu – to lead games development, indicating its intention to leap into publishing video games. Verdu has previously served as the vice president of mobile for Electronic Arts Inc., overseeing games studios that operated titles like “Star Wars: Galaxy of Heroes.”
Netflix plans to build out its gaming team in the coming months and offer video games on its streaming platform within the coming year. The company’s intention to make video games is already causing flutters in the gaming sector.
Citigroup Analyst Thomas A. Singlehurst said Netflix’s entry would likely accelerate video games’ transition to cloud-based platforms. Singlehurst added Netflix’s this step could trigger a “shift in the monetization model for the traditional PC/console side of the market.”
[3 minute read]