Netflix Loses Nearly Half a Million Subscribers, Confirms Entry into Video Game Market with Mobile Titles

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Image: Netflix

Netflix has released its earnings report for the second quarter of 2021, and the numbers aren’t completely positive. According to Netflix’s latest financials, the world’s largest streamer managed to grow its global subscriber base by more than 1.5 million but ended up losing 430,000 paid streaming customers in the U.S. and Canada—its key regions. Netflix’s losses are being blamed on the rapid rise of streaming competitors such as Disney+, HBO Max, and Paramount Plus, as well as a natural slowdown following the explosive growth in 2020 driven by coronavirus. In more positive news for the streamer, Netflix confirmed that it would be entering the video game market with mobile games. The company has hired video game veteran Mike Verdu, who previously worked at Facebook’s Oculus Studios and EA, to ensure the success of its new venture.

“[W]e think the time is right to learn more about how our members value games,” it said in announcing Q2 results. Netflix said games would be included as part of the monthly subscription price of its core service. […] Netflix said it’s in “the early stages of further expanding into games, building on our earlier efforts around interactivity (e.g., Black Mirror Bandersnatch) and our Stranger Things games.”

Source: Netflix (via Variety)

Tsing Mui
Tsing has been writing the news for over 5 years, first at [H]ard|OCP and now at The FPS Review. He has a background in journalism and makes sure to give his readers the relevant context to why each news post matters.

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