After acquiring its first game studio, Netflix has assured investors that it won’t be rushing to purchase more – but won’t turn down a good opportunity.
During an earnings call earlier this week (via VGC), Netflix COO Gregory Peters explained the company’s strategy when it comes to gaming.
“It’s something that will be opportunistic,” he explained. “I would say don’t expect us to go on a tearing, buying spree or something like that. This will be one of the tools that we use, and we’ll use it opportunistically when we find a great opportunity out there.”
Just last month, Netflix purchased Night School Studio – the developers behind indie hit, Oxenfree.
“We’re tremendously excited about that team in specific because they really – the core of what they’ve done is to try and explore story and narrative essentially as the central game mechanic,” said Peters. “We think that fits really, really well with what we’re trying to do. So, it’s been great to get them on board and involved and to hear their thoughts and ideas. And I expect it will be a sort of a rich partnership over years to come.”
The game follows a group of friends as they accidentally open a supernatural rift. The upcoming sequel, Oxenfree II: Lost Signals will expand this rich universe.
“You can tell from our track record, we are fairly selective when it comes to M&A,” added Netflix VP of Finance, Spencer Wang. “But as Greg said, when an opportunity presents itself, where we feel like we’re aligned with the company, I think that’s an opportunity we’ll take. But again, it’s not – nothing more than that.”
