Netflix details video game push as it forecasts weak growth

REUTERS -Netflix Inc said it would make a deeper dive into video games as the movie and TV streaming service projected weak subscriber growth amid growing competition and the lifting of pandemic restrictions that had kept people at home.AdvertisementEarnings for April through June came in at US$2.97 per share, below the average forecast of US$3.16, according to analysts surveyed by Refinitiv.

"We view gaming as another new content category for us, similar to our expansion into original films, animation and unscripted TV," the company said in its quarterly letter to shareholders.Netflix has dabbled in video games with a few titles linked to hits including"Stranger Things" and"The Dark Crystal: Age of Resistance."

The company projected it would add 3.5 million customers from July through September. Wall Street had expected a forecast of 5.5 million.For the just-ended quarter, Netflix added 1.54 million customers, beating analyst projections of 1.04 million. Total subscribers numbered 209 million at the end of June.This year, Netflix felt the impact of COVID-19 on TV production, which left the company with a small menu of new titles.

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