Netflix (NASDAQ:NFLX) is adding to the living room experience with a brand-new lineup of party games.
This holiday season, viewers can transition from watching Kpop Demon Hunters to engaging in games with friends and family—all without leaving Netflix. The company is introducing a fresh way to enjoy gaming, designed to be as simple as streaming a show.
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All that’s required is a Netflix subscription and a phone. The new games include popular titles like LEGO Party!, Boggle Party, Pictionary: Game Night, Tetris Time Warp, and Party Crashers: Fool Your Friends.
Netflix stock gained over 36% year-to-date topping the Nasdaq 100 index’s (which includes Netflix) 20% returns. The streaming giant is expanding its gaming efforts with the launch of mobile games based on its popular series, including updates for “Squid Game: Unleashed” as the third season of the show premieres.
The updated “Squid Game: Unleashed” will introduce more ways to play and be available on Chromebooks and large-screen Android devices, marking a first for Netflix’s gaming offerings.
“Squid Game” season two set a record on Netflix, garnering 68 million views in its first week in December.
Meanwhile, Fortnite joins the “Squid Game” craze by introducing themed locations and interactive games like “Red Light, Green Light”.
Netflix is experiencing strong subscriber engagement, according to Alicia Reese of Wedbush Securities. Speaking on Bloomberg TV on Thursday, Reese called the company’s retention for the second quarter “shockingly strong.” Many users who previously canceled the service have returned, he says.
Despite price hikes, especially in the Premium Tier, Reese highlighted that user stickiness remains high with the new ad-supported tier. She attributed much of the strong retention to Netflix’s content recovery. Titles like Squid Game and WWE programming are key drivers for bringing back subscribers, he says.
Reese also credited the ad-supported tier for reducing churn.
NFLX Price Action: NFLX stock is trading lower by 0.31% to $1,210.50 premarket at last check Thursday.
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