Netflix (NFLX) Streamlines Gaming Division, Shuts Down Studio Behind Squid Game Title

Netflix (NFLX) has formally closed Boss Fight Entertainment, the online game studio behind its well-known cell recreation, Squid Game: Unleashed, in line with a LinkedIn submit. The transfer comes simply over three years after Netflix acquired the Texas-based studio in March 2022 to increase its gaming footprint with skilled builders.

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Shutdown Despite Success

The closure comes as a shock, particularly given Squid Game: Unleashed’s robust efficiency. The recreation racked up over 10 million downloads on the Google Play Store and was one in every of Netflix’s most profitable cell titles. Further, it topped charts because the #1 Free Action Game in 107 nations.

Further, Co-CEO Greg Peters had referenced it throughout this week’s earnings name for example of the sort of narrative gaming the corporate desires to pursue.

Boss Fight had been a key a part of the corporate’s push into interactive leisure, growing titles like Netflix Stories. Its different initiatives included interactive story video games based mostly on Netflix IPs reminiscent of Love Is Blind, Virgin River, and Emily in Paris.

Netflix’s Gaming Shift

The shutdown comes at a time when Netflix’s gaming division is shifting focus away from cell and towards TV-based experiences, the place customers can play utilizing their telephones as controllers. Netflix video games chief Alain Tascan, who joined final 12 months, is main the shift.

Under the management of gaming president Alain Tascan, the corporate is engaged on get together video games, narrative-driven experiences, kid-friendly content material, and titles playable instantly on TVs. Upcoming releases embody LEGO Party!, Pictionary: Game Night, and Tetris Time Warp, all slated for the vacation season.

Is Netflix a Good Stock to Buy Right Now?

On TipRanks, NFLX inventory has acquired a Moderate Buy consensus score, with 24 Buys, six Holds, and one Sell assigned within the final three months. The common Netflix inventory worth goal is $1,402.19, suggesting an upside potential of 28.09% from the present stage.

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