An enlightened millennial doesn’t need to be told about what all technology brought with it when it first arrived on the scene. After having stepped into our lives, technology began to sort its offerings out to give us a structured path for using it to the best of its ability. Once that was done, the transformation began. Every major sector went through a complete overhaul to create a tech-friendly framework, which in itself reveals the shades of brilliance it had right from the get-go. By now, we are well aware of how the integration of technology helped in improving certain sectors, but something we don’t talk enough about is how technology also helped in discovering new sectors.
In the traditional world, many markets were at the point of saturation before technology turned up. Following some initial challenges, this issue was resolved by adding new self-sustaining economic opportunities, and one such opportunity came in the form of a gaming industry. Even though the concept of a gaming industry would have sounded absurd a few decades ago, the fact is that today this very industry boasts multi-billion dollars of worth. The craze around gaming has grown exponentially, and it was only stoked during the pandemic as people were forced to stay in. Such has been the rise of video games in particular that nowadays we see full-fledged gaming tournaments taking place around the globe.
Nonetheless, these gaming pastures might be about to get even more lucrative as a big player in Netflix looks set to throw its hat in the ring. The decision to make this foray comes after the company’s subscribers in U.S. and Canada nosedived by 400,000 in the second quarter of 2021. With its market stronghold faltering, Netflix knows it needs to do something different.
“We think we can deliver more entertainment value through games.” Netflix Chief Operating Officer and Chief Product Officer, Greg Peters said.
There is a reason why Netflix picked video games as their new line of focus though. The gaming industry offers them just enough room to use two tools that turned Netflix into a true media streamlining giant. These two tools, data and intellectual property, bring a dynamic that is being increasingly used these days, but companies who actually master it are still scarce. Therefore, Netflix can very well disrupt the gaming market and make a run for industry’s supremacy.