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

How ‘I Faked Madness To Earn Public Sympathy’ – Shina Peters

Published

4 days ago

October 25, 2025

Editor

Veteran Afro-Juju legend, Sir Shina Peters, has opened up about the unusual strategy that helped reshape his image after his controversial exit from Prince Adekunle’s band.

During an appearance on The Honest Bunch Podcast, the “Ace” crooner recounted that his decision to leave the band sparked widespread backlash, with many accusing him of betraying his mentor for money.

He narrated how his team deliberately made him look like a mentally unstable person and showcased him in public to gain public sympathy.

“People protested against me when I left Prince Adekunle’s band because they believed I left my father figure for money. Then the owner of my record label and some media heads came up with an idea.

“They asked me to braid my hair for three days without loosening it, then I wore some torn up cloths. After that, they took me to Oyingbo Market to buy ewedu while recording everything. I didn’t even know what they were up to.”

The veteran singer said the stunt continued in Badagry, where he was filmed behaving like a mentally unstable person at a construction site handled by Julius Berger.

“They told me to act like a madman and eat in public. All of that was done to change people’s narratives and earn empathy from fans,” he said.

Sir Shina Peters explained that the carefully planned drama ultimately helped him win back public sympathy and rebuild his image as a solo artiste.

Entertainment

Ned Nwoko Breaks Silence, Blames Regina’s Outburst On Drug Abuse

Published

1 week ago

October 19, 2025

Editor

Senator Ned Nwoko has broken his silence following a viral video showing his wife, actress Regina Daniels, in distress, describing her recent actions as “drug-influenced” and “unprovoked carnage.”

In a lengthy post and a short video shared on his Instagram handle #princenednwoko on Sunday, Nwoko claimed the actress was battling drug and alcohol abuse, which he said was at the root of the crisis rocking their marriage.

“Regina was not always like this. Her current battle with drugs and alcohol abuse is the root of our problem.

“She must continue her rehabilitation programme, or I fear for her life and safety,” he wrote.

The senator alleged that Regina went on a violent rampage at their home in his absence, attacking staff and destroying property.

“She slapped and hit three staff in the past 48 hours and destroyed property, including cars and windows, for no just cause.

“Now she has moved to a place where she will have unrestricted access to drugs,” the senator alleged

Nwoko said he had offered his wife two rehabilitation options in Asokoro or Jordan, “where she will not have access to drugs.”

He further alleged that the scene at home was worsened by the interference of Regina’s associates, whom he described as “drug suppliers.”

“While I took Moon to the hospital, a scene of chaos unfolded at home, orchestrated by Sammy, Regina’s main drug supplier.

“Another known supplier of drugs to Regina is the tiny evil devil called Ann,” he alleged.

His post came hours after The PUNCH reported that a video of the actress, visibly agitated and shouting during a confrontation, had gone viral on Saturday, sparking widespread concern.

In the footage, Regina could be heard saying, “In Ned Nwoko’s house, I am nothing, but in my own house, I am a Queen. Not again. I can’t stand the violence, it’s too much.”

Her brother, Ojeogwu Samuel Danhillman, popularly known as Sammy West, also reacted angrily on Instagram, accusing Nwoko of assaulting his sister and vowing to defend her.

“Anywhere wey man dey beat woman, whether na my sister or not, I go fight with my blood,” he wrote.

The cause of the altercation remains unclear, as neither Regina nor her representatives have publicly responded to Nwoko’s allegations.

Regina Daniels, who married Nwoko in 2019, has often been in the public eye alongside the politician and businessman.

The couple’s marriage, marked by a 40-year age gap, has long drawn public attention and debate.

Entertainment

Annie Idibia Finds Love Again

Published

1 week ago

October 19, 2025

Editor

It appears actress Annie Idibia may not remain single for long following the reported crash of her marriage to music icon, 2Face Idibia.

Fresh reports and social media activity suggest that celebrity stylist Jeremiah Ogbodo, popularly known as Swanky Jerry, may be the new man warming Annie’s heart.

The duo, who have shared a long and sometimes dramatic friendship, recently set the internet abuzz with a series of affectionate exchanges that fans have interpreted as more than just platonic.

In a post that has since gone viral, Swanky Jerry described Annie as “the most beautiful soul I’ve ever known,” while Annie responded with a heartfelt “I love you always, my person.”

Their public display of affection comes just months after Annie and 2Face’s marriage reportedly hit the rocks, following years of speculation about infidelity and emotional strain.

The actress, who had once described her marriage as “a rollercoaster of love, pain, and grace,” has lately been posting cryptic quotes about “peace, self-love, and fresh starts”.

Fans were quick to notice that Swanky, who was previously at odds with Annie during the Young, Famous & African reality show saga, has now returned to being one of her closest companions.

Their reconciliation, which started quietly earlier this year, now appears to have blossomed into something much deeper and possibly romantic.

Many online observers have expressed excitement over the pair’s chemistry, with some calling them “a perfect match” and others urging Annie to “choose happiness this time.”

Swanky Jerry, known for styling top celebrities across Africa, including Tiwa Savage, Davido, and Bonang Matheba, has not publicly confirmed any romantic relationship with Annie.

Still, his recent posts featuring the actress in glowing admiration have only intensified rumors of a budding romance.

The once “perfect love story” that captivated Nigerians for years now seems to have faded, paving the way for a new chapter in Annie’s personal life.

Whether or not Swanky Jerry and Annie Idibia are truly in love or just sharing a deep emotional bond remains to be seen.