Netflix is on a gaming spending spree – should Nintendo, Sony and Xbox worry?

techradar.com:

Just because Netflix is cancelling another hit TV show, it doesn’t mean the streaming company isn’t investing elsewhere. In fact, Netflix’s executives’ eyes seem increasingly turned away from TV content and towards gaming, as its latest acquisition proves.

The company is buying Finnish games development studio Next Games. The developer has a track record for creating mobile games based on entertainment licenses, and has already created gem-matching RPG puzzler Stranger Things: Puzzle Tales, based on the sci-fi horror franchise, one of the best Netflix shows. 

It’s also put out a number of games based on The Walking Dead too, including The Walking Dead: Our World, which uses mixed-reality and augmented reality elements in a similar way to what’s already proven hugely successful in Niantic’s Pokemon Go.

The acquisition is set to complete in the second quarter of 2022.

“Next Games has a seasoned management team, strong track record with mobile games based on entertainment franchises, and solid operational capabilities,” said Michael Verdu, Vice President of Games, Netflix. 

“We are excited for Next Games to join Netflix as a core studio in a strategic region and key talent market, expanding our internal game studio capabilities. 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.”

“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,” added Teemu Huuhtanen, Chief Executive Officer, Next Games.

“Our close collaboration with Netflix on Stranger