Netflix Buying Finland's Next Games To Boost Mobile Gaming Business

Netflix announced Wednesday that it plans to acquire Finland-based mobile game developer and publisher Next Games for about $72 million, Wendy Lee reported for the Los Angeles Times.

Photo Insert: Bring out the popcorn. Netflix is making a push in the gaming business.

The deal, which is expected to close in the second quarter, is part of the streaming service’s strategy to increase its investment in mobile gaming and increase the ways it can reach consumers through its storytelling.

“We are excited for Next Games to join Netflix as a core studio in a strategic region and key talent market, expanding our internal game studio capabilities,” said Michael Verdu, Netflix’s vice president of games, in a statement.

“While we’re just getting started in games, I am confident that together with Next Games we will be able to build a portfolio of world-class games that will delight our members around the world.”

Next Games had about 120 employees at the end of 2021. Sales were about $30.17 million in 2020, with 95% of revenue coming from in-game purchases. The company had projected it would generate at least $44.4 million in 2021.

Founded in 2013, Next Games has developed games based on popular TV shows including “The Walking Dead.” Last year, it released a mobile game called “Stranger Things: Puzzle Tales,” based on Netflix’s popular sci-fi franchise “Stranger Things.”

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