Netflix recently announced its plans of acquiring Finnish mobile game development studio Next Games for approximately $72 million.
Found in 2013, Next Games has an impressive portfolio with popular titles such as Stranger Things: Puzzle Tales, The Walking Dead: Our World, and The Walking Dead: No Man’s Land. In Q4 2020, the gaming studio was reported to be worth ~$31 million, with almost 95% of the sales generated from in-game purchases.
Michael Verdu, Netflix VP Games commented:
Next Games has a seasoned management team, a strong track record with mobile games based on entertainment franchises, and solid operational capabilities. We are excited for them to join Netflix as a core studio in a strategic region and key talent market, expanding our internal game studio capabilities. While we’re just getting started in games, I am confident that together we will be able to build a portfolio of world-class games that will delight our members around the world.
The move follows Netflix’s plans to step into the video gaming industry and build its gaming content.
On the recent acquisition, CEO Next Games, Teemu Huuhtanen stated:
We have had an unwavering focus to execute on our vision: to become the partner of choice for global entertainment businesses and craft authentic and long-lasting interactive entertainment based on the world’s most beloved franchises. Joining forces with the world’s largest streaming service, Netflix presents an opportunity for a logical and exciting continuation of our strategy to craft interactive experiences for the world to enjoy.
The 51-year-old businessman also added:
Our close collaboration with Netflix on Stranger Things: Puzzle Tales has already proven that together we create a strong partnership. This is a unique opportunity to level up the studio on all fronts and continue on our mission together.
Netflix has yet to disclose its plans regarding the acquisition.
