Netflix has increased its cloud gaming offerings by establishing a new studio in Southern California. San Francisco Two details about the streaming behemoth’s debut into games were disclosed by the company’s vice president of gaming, Mike Verdu, according to TechCrunch.
The platform is “seriously considering a cloud gaming service,” according to Verdu. After losing 200K subscribers in the first quarter, Netflix shares fell by 23%.It increases value. You are not being urged to subscribe in order to replace your console. It uses an entirely new business strategy. The goal, he continued, is for it to eventually just become a very natural way to play games wherever you are.
To hasten the creation of games, the business is expanding its own studio in California. Chacko Sonny, a former “Overwatch” executive producer, will serve as the studio’s Californian director. Blizzard Entertainment’s “Overwatch” game was a big success, bringing in billions of dollars.
Verdu was cited as stating, “He could have done anything, but he decided to come here.” Without the impression that we’re in it for the long haul and for the right reasons, he continued, “you don’t get people like that coming to your organisation to produce the next big thing in gaming.” According to a report, Netflix is losing long-term paid subscribers, with 60% of new subscribers cancelling in the most recent quarter.
According to the article, since declaring its foray into the gaming industry, Netflix has 35 titles available and 14 more are being developed in its own studios. Verdu reported that 55 games are currently being worked on. These games provide experiences based on both licenced IP, such as “Spongebob Squarepants,” and unique IP, such as “Stranger Things.” The business also creates its own original games.