Netflix Guards Its Streaming Crown With Video Games

Netflix Guards Its Streaming Crown With Video Games

While streaming-video services such as HBO Max, Disney+ and Paramount+ and are still trying to develop Netflix-size followings among TV and movie fans, Netflix Inc. is already on to the next thing: video games. It just might help the streaming pioneer get out of a growth rut.

After hinting vaguely on last quarter's earnings call that gaming was on its radar, Netflix made clear it is making a more serious push into that area. The $243 billion company has hired Mike Verdu, a former executive at video-game publisher Electronic Arts Inc. and Facebook Inc., to be its vice president of game development, Netflix Chief Operating Officer Greg Peters said Wednesday, as first reported by Bloomberg News. Verdu, who also had stints at Zynga Inc. and Atari, worked on popular games at points during his career such as The Sims, Plants vs. Zombies and Farmville. Most recently, he helped oversee content for Facebook's Oculus Rift virtual reality headset.

It's risky for Netflix to wade into unfamiliar territory while it's on top of its game, but this could give any holdouts more of a reason to subscribe to the $14-a-month service. The company doesn't plan to charge extra for gaming, which would appear in