Netflix To Open Video Game Studio In Finland

Streaming giant Netflix (NFLX) is opening an internal video game studio in Finland as it seeks to diversify
its offerings and grow globally.

Netflix has been expanding into video games since November 2021 when it entered the mobile gaming
sector. The company bought Finland-based Next Games for $72 million U.S. earlier this year and has
purchased three external game studios in recent months.

Netflix now has more than 20 mobile games available for download to subscribers, and the company says
it plans to have 50 by year’s end.

The games include “Stranger Things: 1984” and “Queen’s Gambit Chess,” which are based on Netflix
television shows.

The move into gaming is in the early stages. However, less than 1% of Netflix’s 220 million worldwide
subscribers are engaging with the video games on a daily basis, according to industry data.

Netflix said in a news release that its new internal game studio in Finland will enable it to develop more
advanced video games. The company has said that its video games will have no ads and no in-app

Netflix’s stock is down 63% this year and trading at $224.07 U.S. per share.