Netflix is setting up its own video game studio, as it intensifies its efforts to establish itself in the gaming industry. Based in Helsinki, Finland, it will be led by former Zynga and Electronic Arts executive Marko Lastikka. Netflix has previously purchased small gaming companies, such as Oxenfree developer Night School Studio. But the streaming giant is now going further and creating a studio from scratch. In April, Netflix announced a loss of 200,000 subscribers, it first quarterly loss since 2011. Its share price dropped by 35%, wiping more than $50bn (£46.5bn) off the firm's market value. Netflix has had a growing interest in the gaming industry in recent years. It has released several series based on games, such as Arcane (based on League of Legends) and Cyberpunk: Edgerunners (based on Cyberpunk: 2077). Netflix is also working closely with Ubisoft, which will see both a live-action Assassin's Creed television series developed, and a Netflix-exclusive mobile game. It is unclear whether the Netflix studio intends to develop games exclusively for mobile, or if it will also target the home console market.
