The streaming giant is building its first in-house video game studio in Helsinki, Finland, as it expands its empire over mobile games, Netflix announced Monday. The news comes after a tough year for Netflix\n \n , which said it lost subscribers for the first time in more than a decade and has seen its stock plunge more than 60% in 2022, amid a broader market downturn. Despite some recent cost-cutting efforts, Tom Forte, senior research analyst at D.A.
He added that Helsinki was chosen to house the new studio because it is “home to some of the best game talent in the world.” Earlier this year, Netflix acquired Helsinki-based studio Next Games. Rahimi said the new studio, however, will be built “from scratch.” Monday’s announcement brings Netflix’s total number of gaming studios up to four. In addition to its acquisition of Next Games, the company has previously acquired Night School Studio and Boss Fight Entertainment.
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Netflix is hemorrhaging money right now. They're not gonna be doin' anyting at /all/ with gaming, that isn't already done by existing streaming-game competitors that are far better than them at it.