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Netflix's Gaming Push Continues With $72 Million Acquisition of Big-Name Developer

The streaming giant continues to make a splash in mobile gaming.

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Netflix is doubling down on its mobile-gaming push. On Wednesday, the streaming giant announced that it plans to acquire Finnish mobile-game developer Next Games in a deal with a total equity value of approximately 65 million euros, or $72 million.

Founded in 2013, Next Games develops mobile games inspired by popular entertainment. Its Stranger Things: Puzzle Tales title is a narrative-driven RPG based on Netflix's record-breaking horror-drama.

Related: 11 Supernatural Ways 'Stranger Things' Has Turned Marketing Upside Down

"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, vice president of games at Netflix, in its public 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."

News of the acquisition comes after Netflix announced in November that members would have access to five mobile games available globally on iOS devices: Stranger Things: 1984 (BonusXP), Stranger Things 3: The Game (BonusXP), Shooting Hoops (Frosty Pop), Card Blast (Amuzo & Rogue Games) and Teeter Up (Frosty Pop).

Related: 3 Growth Strategies for Mobile Gaming

Playstation manufacturer Sony and Xbox masterminds Microsoft have already had success acquiring smaller gaming studios, and Chinese technology and entertainment conglomerate Tencent has likewise made significant investments in the sector. And with no shortage of hit titles in its repertoire, Netflix is particularly well-positioned to take advantage of this strategy as it continues to gain footing in the mobile-gaming space.

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