Entertainment

Netflix Confirms Move Into Video Games As Its Growth Slows

Published

4 years ago

July 21, 2021

Netflix reported its worst slowdown in subscriber growth in eight years as people emerge from their pandemic cocoons. So it’s adding a new attraction to its marquee: Video games.

On Tuesday, the video streaming giant announced it will offer video games in its existing subscription plans at no extra cost, but didn’t say when that service will launch or what kind of games it will be developing.

The confirmation of the long-anticipated expansion came in conjunction with the release of Netflix’s latest earnings report.

That financial breakdown showed the video service added 1.5 million subscribers during the April-June period. That’s slightly better than the modest increase that management forecast after the service stumbled to a sluggish start during the winter months, but still far below its growth rate in recent years.

Netflix’s net gain of 5.5 million subscribers through the first six months of this year represents its weakest first-half performance since 2013 — a time when the company was still rolling out more original programming as it branched out from licensing existing TV series and movies.

Now Netflix is taking another leap by offering video games that intends to produce itself as part of what it described as a multi-year expansion.

The Los Gatos, California, company telegraphed the move last week when it disclosed the hiring of a veteran video game executive, Mike Verdu, to explore potential opportunities in another field of entertainment.

“The reason we’re doing them is to help the subscription service grow and be more important in people’s lives,” Netflix co-CEO Reed Hastings told investors during a Tuesday discussion.

Greg Peters, Netflix’s chief product officer, said the company will initially focus on mobile games before eventually expanding to consoles and TV sets as well. The games initially will be tied to Netflix’s most popular programming, Peters said, but standalone titles may be added to the, mix too. He even speculated that Netflix eventually may create a TV series or film inspired by one of its video games.

“There’s a a big, big prize here, and our job is to be really focused,” Peters said.

Despite this year’s growth slowdown, Netflix remains by far the world’s biggest streaming service in an increasingly competitive field that includes Walt Disney Co., HBO, Amazon and Apple. Netflix finished June with 209 million worldwide subscribers.

Netflix’s heft also has produced steady profits. The company earned $1.35 billion, or $2.97 per share, nearly doubling from the same time last year. Revenue rose by 19% from last year to $7.3 billion.

But the lackluster first-half numbers are a dramatic reversal from last year, when government-imposed lockdowns across the world thrust people into binge-watching frenzies while corralled at home. Already the world’s largest video streaming service when the pandemic began in March 2020, Netflix picked up 26 million subscribers during the first half of last year. .

While no one expected Netflix to sustain that breakneck pace, the drop off in subscriber growth this year has been more severe than anticipated. Netflix shares have fallen by about 10% from their peak of $593.29 six months ago. The shares edged up slightly in extended trading after Tuesday’s news came out.

Netflix management has blamed part of this year’s slowdown to pandemic-induced production delays that left its video service with fewer proven hits. The Los Gatos, California, is expecting that problem to fade during the second half of this year with new-season releases of popular series such as “Sex Education” and “The Witcher,” as well as movies starring big-name stars such as Leonardo DiCaprio and Meryl Streep.

Even so, Netflix let down investors with a forecast calling for only an additional 3.5 million subscribers during the July-September period. That was well below analyst estimates for a third-quarter gain of 5.6 million subscribers, according to FactSet Research. The “quite underwhelming” guidance raised more worries about intensifying competition in video streaming, as well as the fallout from pandemic lockdowns ending, said CFRA analyst Tuna Amobi.

The conservative outlook suggests Netflix isn’t expecting an immediate boost from its foray into a highly competitive video game field already contested by far more experienced companies such as Epic Games, Microsoft and Electronic Arts.

But if the move into video gaming pays off, it could eventually give Netflix more leverage to boost its prices. The company has already been gradually raising subscription costs in recent years, helping to boost its average monthly revenue per subscriber to $14.54 in its biggest market comprised of the U.S. and Canada. That’s a 16 % increase from $12.52 per month two years ago.

(AP)

Related Topics:California Netflix video games

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Entertainment

Anthony Joshua Returns To UK In Private Jet

Published

8 hours ago

January 4, 2026

Editor

Former world heavyweight champion, Anthony Joshua, has flown back to the United Kingdom (UK) following the horror crash that left him hospitalised and killed two of his close friends, Sun newspaper reported on Saturday night.

The boxer landed at London Stansted Airport in a private jet on Friday night and was ferried to his mansion, where he’ll continue his recuperation.

Joshua’s strength coach, Sina Ghami and his personal trainer, Latif ‘Latz’ Ayodele, both 36, died after the vehicle they were travelling in ploughed into a stationary truck near the Sagamu axis of the Lagos-Ibadan expressway on Monday.

Joshua, 36, had to be pulled from the mangled wreckage but fortunately only sustained minor injuries in the crash.

This comes as there were reports that the funerals of Joshua’s friends will be held today at a mosque in London.

Family and friends have been invited to a “janaza prayer service” – an Islamic prayer – and funeral of Ghami and Ayodele in the morning.

Joshua is undecided as to whether he will attend the funeral, out of fear that his presence could cause a “circus”.

A source said: “Anthony wants to go to the funeral but he hasn’t decided yet, he’s mindful that his presence could cause a circus and overshadow the funeral for the family of his two friends.”

Entertainment

PHOTOS: Anthony Joshua Makes First Social Media Post After Surviving Deadly Car Crash

Published

8 hours ago

January 4, 2026

Editor

Former world heavyweight boxing champion, Anthony Joshua, has broken his silence after a deadly car crash in Nigeria that killed two of his close friends and team members.

In a post on his official Facebook account on Sunday, he made his first public comment since the crash.

Joshua shared the post, pictured alongside the families of Sina and Latz, with the caption “My Brother’s Keeper ❤️🕊️❤️.”

The image shows the former heavyweight champion offering support and solidarity to the families.

Both Sina and Latz are scheduled to be laid to rest later on Sunday.

Joshua suffered minor injuries in the accident that claimed the lives of Sina Ghami and Latif “Latz” Ayodele on Monday, December 29, on the Lagos–Ibadan Expressway.

The 36-year-old boxer was released from the hospital on New Year’s Eve and flew back to the United Kingdom on Saturday.

Entertainment

How I Struggled With Masturbation, Started Smoking At 13 — Tonto Dikeh

Published

5 days ago

December 30, 2025

Editor

Popular Nollywood actress, Tonto Dikeh, has publicly shared what she described as her deliverance from smoking, alcohol addiction, masturbation, and long-standing anger issues during a Sunday service at Streams of Joy International Church.

Dikeh gave the testimony during the New Season Prophetic Prayers and Declarations service, led by the church’s founder, Pastor Jerry Eze, according to a video shared by DCLImagery on YouTube on Sunday.

Addressing the congregation, the actress recounted that she began smoking at the age of 13 and struggled for years with alcohol and masturbation, which she said only ended through divine intervention.

“I smoked since I was 13. God healed me from masturbation, too. I have known myself to have sexual intercourse in the dream ever since I was a child,” she said.

She explained that her appearance at the altar was both an act of thanksgiving and a public testimony, adding that she initially considered withdrawing due to concerns about her image.

“The devil tried to tell me that I was supposed to protect my image. But I told myself, what image? The God that gave me the image is the same God that can take it away,” she said.

Dikeh further stated that after attending the Ghana Prayer Conference, she noticed a significant change in what she described as years of spiritual oppression.

“I realised that the weak man who held me captive all my years in my dream ran away,” she said, describing the moment as a turning point in her spiritual life.

The actress also spoke about struggling with what she called “demonic anger,” which she said had negatively affected her relationships and personal life.

“An anger that destroyed my life. Everybody had to feel it. But praying with NSPPD, God took all of those away and gave me peace,” she said.

According to Dikeh, the peace she now experiences is something she had never known before.

“I am 40 years old, and I can tell you I have never known peace until now. I am living in it,” she said.

She disclosed that her smoking habit lasted about 27 years and began after early exposure at home, using her experience to caution parents against exposing children to harmful habits.

“I started smoking because my dad was a smoker. Something as little as that habit can inhabit the lives of your children,” she said.

Dikeh added that after praying for divine help, she no longer has urges for cigarettes or alcohol.

“My body does not ask for it. My body is repelling it. Today, it is broken,” she said.

During the service, Pastor Eze prayed for the actress, declaring that “the body of sin is broken” and describing her as “a voice in her generation.”

The actress also shared photos from the church on her Instagram page, captioning them: “A living testimony of mercy. One God spared, restored, and commissioned.”