Netflix Could Expand Into Video Games: Report

One of the largest streaming companies is reported to be pushing into the video game space.

What Happened: Netflix Inc (NASDAQ: NFLX) is seeking an executive to oversee its expansion into video games, The Information reports.

The report said Netflix has approached veterans in the gaming industry about joining the streaming company’s efforts to expand the vertical.

"Our members value the variety and quality of our content. Members also enjoy engaging more directly with story they love, so we're excited to do more with interactive entertainment," a Netflix spokesperson told Cordcutternews. 

Related Link: Netflix Shares Fall On Lower Q1 Subscription Growth: What Investors Should Know

Why It’s Important: Netflix launched a game themed on its “Stranger Things” franchise with an outside developer. With its own gaming platform, Netflix could create games around its owned properties and original series.

“We’re in the business of creating these amazing, deep universes and compelling characters and people come to love these universes and want to immerse themselves more deeply and get to know the characters better and their backstories and all that stuff,” Netflix Chief Product Officer Greg Peters said on Netflix’s last earnings call.

Netflix said launching games is part of its licensing and merchandising effort.

NFLX Price Action: Netflix shares were down 0.56% at $498.85 at last check Friday. 

Photo courtesy of Netflix.