First rumored in early November, Netflix’s recent acquisition of Warner Brothers has generated no small amount of debate. Much discussion has lit up the internet revolving around anti-trust, and whether entertainment companies are growing too large. But Netflix’s purchase of WB doesn’t just include the film studio and catalog. It also contains WB Games, and with it, some of the biggest gaming properties around like Hogwarts & Mortal Kombat. But what do the people in charge of Netflix think of their new gaming additions?
“Relatively Minor”
Netflix has been putting more effort into gaming in recent years, with a library of games playable on the streaming platform’s mobile app. So, it seems the purchase of WB Games is in-line with the company’s gaming ambitions. But in a December 8th call at the UBS Global Media and Communications Conference, Netflix Co-CEO Gregory Peters initially downplayed importance of WB Games.
Referring to the deal model, Peters said, “While they definitely have been doing some great work in the game space, we actually didn’t attribute any value to that from the get-go because they’re relatively minor compared to the grand scheme of things.”
While that may seem dismissive, it’s important to remember the bulk of the purchase focuses on the value of Warner Brother’s film production and catalog. Peters clarifies that though WB Games wasn’t consider at length in the deal, Netflix is looking forward to working with the relevant studios.
“Now we’re super excited because some of those properties that they’ve built, Hogwarts is a great example of that, have done quite well, and we think that we can incorporate that into what we’re offering. They’ve got great studios and great folks working there. So we think that there’s definitely an opportunity there. But just to be clear, we haven’t built that into our deal model.“
It’s no surprise that Peters mentions Hogwarts Legacy, with the game having sold 34 million copies since launch. Netflix’s purchase of WB won’t be finalized until 2026, so it’s unclear what the company’s gaming strategy will be. But given the varying quality of their streaming shows, many gamers can’t help but feel apprehensive.
Sourced from Seeking Alpha. For more coverage, check out our other games section.
