Netflix has acquired another gaming studio, this time snapping up the Helsinki-based Next Games. The buyout isn’t totally surprising, as Netflix is planning to do more in the gaming space and has already worked with Next Games on the game Stranger Things: Puzzle Tales.
This is just the latest gaming studio acquisition from Netflix, following its purchase of Oxenfree studio Night School in 2021. Netflix is paying EUR 65 million ($72.3 million USD) to acquire all outstanding shares of Next Games, pending standard closing conditions. The deal should go through, though, as Next Games’ Board of Directors unanimously approved it already.
Netflix’s gaming boss Mike Verdu said Next Games has a “strong track record” and “solid operational capabilities.” Not only that, but buying Next Games was a geographic consideration, Verdu said, describing the European market as a “strategic region and key talent market.”
“While we’re just getting started in games, I am confident that together with Next Games we will be able to build a portfolio of world class games that will delight our members around the world,” Verdu said.
Next Games was founded in 2013 and had 120 employees at the end of 2021. In addition to its Stranger Things game, the studio made the games The Walking Dead: Our World and The Walking Dead: No Man’s Land, which are based on AMC’s popular zombie TV show.
“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,” Next Games founder and CEO Teemu Huuhtanen said. “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 now offers games from within the Netflix app. They do not cost anything extra, though Netflix did just recently raise subscription rates.
