The film, television and gaming industry has had a healthy relationship for some time now with studios, networks and platforms embracing high profile game intellectual property (IP) to turn it into content. We may now see an evolution in that relationship.
The goal, of course, is for Netflix to become a self-sustaining platform for gaming as well as content. Generate multiple revenue streams for a software world beyond just the content IP address.
OTT platform acquired Boss Fight Games, a private game development company, on March 24, 2022. It also made a bid in the same month to buy Next Games for €63.1 million ($68.8 million), after working with the company to develop Stranger Things: Puzzle Tales.
One of the main positives of the gaming sector is that it helps to keep the audience captivated by the universe surrounding the content itself. Extending the lifecycle of an offer can help retain subscribers and grow in new demographics.
Since Netflix owns the rights to a lot of original content, and now design companies, IP can be easily translated on the mobile screen. There is a potential for this to become a high-return project, but it will at least keep some audiences in touch with programming more frequently.
The gaming industry is also on the verge of mass growth with new technology and capabilities emerging frequently. Gamelancer, the largest gen-z gaming network, is now publicly traded and has the visions for more success in the market.
The company currently has 27 million fans and over 1 billion monthly video views across TikTok, Twitter, and Instagram. By leveraging their handle -gaming – across platforms, they have garnered a huge following that shows no sign of slowing down.
Razvan Romanescu, co-founder and CEO of Gamelancer Inc. , on the current state of the sector: “The future is gaming and NFTs – we are at the forefront of a massive shift in how games intersect and the world at large. Gamelancer is positioned to be the largest Gen-Z gaming conglomerate to drive cloud gaming and voice connectivity.”
“We want to deliver real value to the gaming community through content, technology, blockchain and hardware.”
Regarding the growing interest in the sector, Romanescu was not surprised, citing the emergence of more technological growth and deepening communication and understanding as the reason behind the increased investment.
“I think a lot of companies are now opening their eyes to the possibilities related to gaming and what can be achieved.” he added.
“Netflix’s move is not surprising and gives them more opportunities to expand and help effectively maintain subscribers. We have found that creating a sustainable gaming community, along with informative content and innovative ideas, such as in-game voice chat, has been very productive. There is a lot more in the pipeline for more Expand and adapt to growth across the market in a timely manner as well.”
The gaming industry has been of interest for quite some time, but has historically been a tough hack with everyone looking for a product like GTA V which made around $6 billion on a budget of just $265 million.
Content from games in the past has been created by both Disney and Meta with very mixed results, and Disney has had a strong IP as well. Netflix’s success in the gaming project will be something to watch.