Netflix Snaps Its Sixth Gaming Studio

Netflix Snaps Its Sixth Gaming Studio
  • Netflix Inc NFLX scooped Spry Fox, a Seattle-based independent gaming studio focused on cozy games.
  • The financial terms of the transaction remained undisclosed.
  • Spry Fox became Netflix's sixth in-house games studio.
  • Also Read: Netflix Goes Aggressive In Gaming Stance, Collaborates To Piggybank On Popular Franchises
  • Spry Fox's unique approach to game development and success with titles will help accelerate Netflix's creative growth in another beloved genre and add to the growing variety of Netflix's games catalog that will have something for everyone.
  • Spry Fox was founded in 2010 by David Edery and Daniel Cook. The games studio is known for popular titles like "Triple Town," "Alphabear" and "Cozy Grove."
  • In September, Netflix shared plans to establish an internal games studio in Helsinki, the capital city of Finland, with Marko Lastikka as the studio director.
  • Netflix held $6.1 billion in cash and equivalents as of September 30.
  • Netflix also posted ads for a security product manager with experience handling "cloud gaming challenges," reflecting its interest in the domain.
  • Streaming companies like Netflix battled subscriber losses as people moved out for entertainment following the pandemic recovery. Additionally, the inflation, geopolitical crisis, and uncertain macro curtailed consumer spending.
  • Price Action: NFLX shares traded higher by 1.34% at $295.80 premarket on the last check Tuesday.

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