Netflix said it would make a deeper dive into video games as the movie and TV streaming service projected weak subscriber growth
said it would make a deeper dive into video games as the movie and TV streaming service projected weak subscriber growth amid growing competition and the lifting of pandemic restrictions that had kept people at home.Netflix is weathering a sharp slowdown in new customers after a boom in 2020 fueled by stay-at-home orders to curb the COVID-19 pandemic.
"We view gaming as another new content category for us, similar to our expansion into original films, animation and unscripted TV," the company said in its quarterly letter to shareholders. Some analysts have said the company that dominates streaming video needs to find new ways to jump-start subscriptions after years of rapid expansion. According to eMarketer, Netflix's share of U.S. revenue from subscription streaming video will shrink to 30.8% by the end of 2021, from nearly 50% in 2018.
Small toy figures are seen in front of diplayed Netflix logo in this illustration taken March 19, 2020. REUTERS/Dado Ruvic/Illustration/File Photo
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