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Netflix Closes Two More Studios

Netflix Closes Two More Studios https://ift.tt/sHACcwS Earlier this summer, Netflix-owned developer Night School released Unhinged , a horror game that was playable on televisions/screens through the streaming app. Unhinged was met with acclaim by players, and Netflix co-CEO Greg Peters recently called Unhinged one of "our two most successful cloud game debuts" during an investor call . Regardless, Night School has been shuttered by Netflix's latest round of cuts. As reported by Game File , Night School and Moonloot are the latest gaming developers to be closed down by Netflix. According to the outlet, Netflix justified the closures by noting that the streamer is narrowing its focus to games for kids, party games, story-driven titles, or "games with mainstream hooks." "We see an opportunity to be more focused in our execution, so we are making organizational changes to the business to match those priorities," said Netflix in a statement to Ga...
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Netflix Says Its Fight Against Password Sharing Is Working

Netflix Says Its Fight Against Password Sharing Is Working https://ift.tt/dujn7G2

In a recent Q2 2023 earnings interview for investors, Netflix announced the "success" of its paid account sharing initiative, now expanded to over 100 countries, accounting for more than 80 percent of its revenue. The crackdown, which started in the United States on May 23 and in several other countries in early February, aimed to address users sharing their Netflix passwords. Despite concerns, the company added 5.9 million subscribers in Q2, reaching a global total of 238.4 million, with only a limited number of cancellations resulting from the action.

"The cancel reaction was low and while we’re still in the early stages of monetization, we’re seeing healthy conversion of borrower households into full paying Netflix memberships as well as the uptake of our extra member feature," Netflix said in its letter to investors.

As the initiative expands, Netflix will tackle account sharing in nearly all remaining countries where the streaming service is offered, including Indonesia, Croatia, Kenya, and India.

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