Video games are the new hype in the entertainment business. This month saw the addition of games on Netflix, Zoom, Amazon, and Peloton’s business plans. But, why are all platforms jumping into the gaming business? Read to find out why.
Are the video games the newest gold mine?
A promise of video games on any platform is always attractive. To back this, the global market for video games has estimated a total of $177.8 billion in last year. The industry is expected to grow beyond the $200 billion mark by 2023. However, there is no promise that platforms like Zoom, Netflix, or Amazon will succeed in this venture. After all, companies such as Sega, Nintendo, Sony, and Atari have had major setbacks.
Previously Amazon tried its hand at games and failed miserably. The online retail giant has been trying to expand into video games. It nearly bought Twitch for $1 billion. Amazon created its own studio around seven years ago. The amazon studio is ready to release New World, its new game in August 2021.
Peloton, the one-stop for at-home fitness is not far behind. The company plans to launch in-app video games so that you can play as you roll the wheels on its Bike and Bike+ models.” Even in early testing, we’ve found that folks who previously would have not used Peloton are interested in this direction and it would make them more likely to work out,” said David Packles, the senior director of product management at Peloton.
Games on Zoom and Netflix
Zoom plans to include games along with the events and apps options on the platform. This will also make users rely on the platform for not just work and school but also entertainment and leisure. For example, apps like ‘Kahoot!’ help in the integration of learning games. And, those like Ellen DeGeneres’ ‘Heads Up!’ provide entertainment to people of all ages.
Netflix has had several talks on the introduction of games to its video platform. The video streaming service will soon introduce mobile games without any added costs. We talked about video games for several years, writing up the pros and cons of the timing of entry,” said Reed Hastings, the CEO of Netflix. “They will have properties like a film that you can own the IP (intellectual property). You can have these long franchises and (it can) be very positive for us, industry structure-wise if we can master the skill set.” He added.
The introduction of games to Netflix will enhance its value as the platform expands from the entertainment realm to leisure. However, the track record of bigshots in entertainment in developing their own games is rather poor.
