FILE - This Jan. 29, 2010, file photo shows the company logo and view of Netflix headquarters in Los Gatos, Calif. Netflix has hired veteran video game executive Mike Verdu, signaling the video streaming service is poised to expand into another fertile field of entertainment.View image in full screen
FILE - This Jan. 29, 2010, file photo shows the company logo and view of Netflix headquarters in Los Gatos, Calif. Netflix has hired veteran video game executive Mike Verdu, signaling the video streaming service is poised to expand into another fertile field of entertainment. AP Photo/Marcio Jose Sanchez, File
Netflix reported its worst slowdown in subscriber growth in eight years as people emerge from their pandemic cocoons. So it’s adding a new attraction to its marquee: Video games.
On Tuesday, the video streaming giant announced it will offer video games in its existing subscription plans at no extra cost. The confirmation of the long-anticipated expansion came in conjunction with the release of its latest earnings report.
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That confirmation of the long-anticipated gaming expansion came in conjunction with the release of Netflix’s latest earnings report. That financial breakdown showed the video service added 1.5 million subscribers during the April-June period.
That’s slightly better than the modest increase that management forecast after the service stumbled to a sluggish start during the winter months, but still far below its growth rate in recent years.
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The 5.5 million subscribers that Netflix gained through the first six months of this year represents its weakest first-half performance since 2013 — a time when the company was still rolling out more original programming instead of licensing old TV series and movies.
Now Netflix is taking another leap by offering video games. The Los Gatos, California, company telegraphed the move last week when it disclosed the hiring of a veteran video game executive, Mike Verdu, to explore potential opportunities in another field of entertainment.
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