October 3, 2023

Netflix, Inc. (NASDAQ:NFLX), Apple Inc. (NASDAQ:AAPL) – 2 New Titles For Netflix Games: What Investors Need To Know

Netflix Inc (NASDAQ: NFLX) announced Tuesday the company is expanding its mobile gaming lineup with the addition of two new games. 

What Happened: Netflix launched Netflix Games on the Apple Inc (NASDAQ: AAPL) app store, as well as on Alphabet Inc’s (NASDAQ: GOOG) (NASDAQ: GOOGL) Google Play store in November 2021.

The games included two “Stranger Things” titles, as well as “Shooting Hoops,” “Teeter (Up)” and “Card Blast.” Many were excited about Netflix’s foray into gaming, but others felt the lineup was lackluster. 

Related Link: Netflix Games Launch: First 5 Games Might Underwhelm, But ‘League of Legends’ Is Coming

Netflix has since increased its gaming lineup to 12 total games following the announcement of two new titles yesterday. 

Netflix first unveiled “Arcanium,” an open-world single-player strategy card game, which the company describes as “the ultimate tale of fellowship and bravery.”

Netflix also released a puzzle game called “Krispee Street.” Based on the webcomic “Krispee,” the game challenges players to find characters and objects that are hidden throughout the game. 

Why It Matters: Netflix is trying to grab market share in an increasingly crowded gaming industry. The Netflix Games expansion was announced shortly after Microsoft Corporation (NASDAQ: MSFT) revealed plans to acquire Activision Blizzard, Inc. (NASDAQ: ATVI).

Activision reportedly looked to sell to other companies including Meta Platforms Inc (NASDAQ: FB) before making a deal with Microsoft. There was no mention of Netflix, but it seems the company could have been a part of the conversation given its gaming ambitions. 

What’s Next: Netflix investors are still waiting for the company to make a bigger splash in the gaming industry. 

A “League of Legends” spinoff is expected in the future, which could help spark Netflix’s gaming business. “Hextech Mayhem: A League of Legends Story” is set to be free for Netflix subscribers, according to a report from The Verge.

NFLX Price Action: Netflix has traded as low as $478.54 and as high as $700.99 over a 52-week period.

The stock was up 0.80% at $514.88 on Wednesday afternoon.

Photo: Courtesy of Netflix

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