Netflix acquires Finnish game developer Next Games for around $72M; the studio specializes in games based on entertainment franchises, such as Stranger Things
Next Games had released ‘Stranger Things: Puzzle Tales’, a role-playing game based on the streaming giant's hit 80s horror drama series in October last year.
Context & Ripple Effects
Netflix’s game effort began with an Android test built around two Stranger Things games; Next Games brings experience turning that same entertainment franchise into a role-playing title. The purchase therefore moves Netflix from testing licensed games in its app toward owning a team that builds them.
Later coverage shows Netflix extending the approach through its Boss Fight Entertainment acquisition and a new Helsinki studio built from scratch, making Next Games an early part of a broader in-house games buildout.
First-order effects
- Netflix gains Next Games’ franchise-game development capability and direct control over a studio already associated with Stranger Things.
- Next Games moves from an independent Finnish developer to a Netflix-owned studio, aligning its work with Netflix’s entertainment properties and game distribution.
Second-order effects
- The deal established an acquisition path that Netflix soon repeated with Boss Fight Entertainment, expanding its internal mobile-game development footprint rather than relying solely on external titles.
- Netflix’s ability to pair its own entertainment franchises with owned development teams raises the value of game studios experienced in adapting established media properties.
Third-order effects
- If Netflix continues to tie games to its catalog, streaming services’ game strategies shift from app experiments toward vertically integrated production of interactive extensions for owned franchises.
- The later pipeline of 80 games, mostly interactive narratives based on Netflix IP indicates that franchise-linked games can become a recurring content layer alongside screen programming rather than a standalone gaming business.
The trend: Netflix’s gaming strategy is evolving from testing companion games to building owned studios and a recurring pipeline centered on its entertainment IP.