Netflix Buys Another Game Studio To Create “World Class” Games
Netflix has acquired yet another gaming studio, this time by purchasing Helsinki-based Next Games. The buyout isn’t entirely surprising as Netflix plans to do more in the gaming space and has already worked with Next Games on Stranger Things: Puzzle Tales. This is just the latest acquisition of the game studio from Netflix since it bought Oxenfree Night School in 2021. Netflix is paying €65 million ($72.3 million) to acquire all outstanding Next Games shares, pending standard closing terms. However, the deal should go through, as the board of directors of Next Games has already unanimously approved it.
Netflix gaming boss Mike Verdu said Next Games has a “strong track record” and “robust operational capabilities.” Additionally, the purchase of Next Games was driven by geographic considerations, Verdu said, calling the European market a “strategic region and a key talent market.”
“While we are just getting started in gaming, I am confident that together with Next Games we will be able to build a world-class portfolio of games that will delight our users around the world,” said Verdu.
Next Games was founded in 2013 and had 120 employees at the end of 2021. In addition to Stranger Things, the studio released The Walking Dead: Our World and The Walking Dead: No Man’s Land, based on the popular AMC series. zombie series.
“Joining forces with the world’s largest streaming service, Netflix, provides an opportunity for a logical and exciting continuation of our strategy to create interactive experiences for the world,” said Next Games Founder and CEO Teemu Huuhtanen. “Our close collaboration with Netflix on Stranger Things: Puzzle Tales has already proven that together we are building a strong partnership. This is a unique opportunity to elevate the studio across the board and continue our mission together.”
Netflix now offers games from the Netflix app. They don’t incur any additional costs, although Netflix recently raised the subscription price.