Gamers Lose as Netflix Stock Price Crashes

Netflix has lost almost half its value since November, casting doubts on its future gaming service.

By    Daniel

Read this post in :

NETFLIX’S VALUE DROPS AFTER COVID-19 LOCKDOWN BOOM

Netflix saw its stock price fall by 2.6% on Monday to $387.15 at close, following a 22% drop last Friday.

The continued drop has seen the share price at Netflix hit its lowest point since April 2020, with Friday’s plunge its biggest one-day fall since July 2012.

To put the numbers into context, 36 million subscribers joined the steaming platform in 2020, and 18.2 million joined in 2021 as people continued to stay at home amid the COVID-19 pandemic.

Those added subscribers helped the company achieve a stock price of more than $700 in November 2021, the same month they announced Netflix Games.

Netflix Games is available at no extra cost to your subscription and grants you access to twelve mobile games, including Stranger Things: 1984 and Stranger Things 3: The Game.

The move by Netflix to move into gaming almost seems like a natural one as the subscription and streaming platforms are already in place and well known.

Netflix co-founder and co-CEO Reed Hastings said in the company’s most recent earnings conference call that Netflix plans to “amaze” and have the “absolute best” in gaming.

That comes after Microsoft announced they were acquiring Activision Blizzard for $79 billion and Take-Two interactive recently purchased Zynga for $12.7 billion.

With gaming quickly moving towards streaming as a long-term cost solution, gaming companies like Microsoft, Ubisoft, Epic Games, Valve, Sony, and Xbox are all spending vast sums of money to invest in the future.

Netflix may have a platform already, but the company lacks the gaming background, knowledge, and audience to compete at the moment.

Even film and TV companies such as Disney and HBO Max are spending billions on improving their streaming services.

As streaming and gaming companies continue to invest heavily in content and infrastructure and gamers look for the best value subscription service, Netflix is in danger of suddenly being left behind.

And now, with the Netflix share price falling nearly 50% in just three months, it would seem that investors don’t believe the company can meet expectations.

As for us gamers, we may not quite have a low-cost subscription service for our films, TV, and games, but we do have the Xbox Game Pass, Disney+, and for the moment, Netflix.

BUY CHEAP NETFLIX GIFT CARDS ON ALLKEYSHOP

For all the latest video game news, trailers, and best deals, make sure to bookmark us.

You can find all the best and cheapest online deals on cheap GTA V CD keys, game codes, gift cards, and antivirus software from the verified CD key sellers on our store pages.

More relevant articles