Netflix’s gaming push
Netflix (NFLX) announced Wednesday it plans to offer the “Grand Theft Auto” trilogy — one of Take-Two Interactive’s (TTWO) most popular video games — as it looks to boost its video game ambitions.
“Grand Theft Auto: The Trilogy – The Definitive Edition” will arrive on the platform Dec. 14 for Netflix subscribers on the App Store, Google Play, and in the Netflix mobile app. Fans can preregister beginning on Wednesday.
The trilogy adds to Netflix’s growing catalog of more than 80 mobile games, with more expected. Netflix shares traded flat on the news.
“Games is a huge entertainment opportunity,” Netflix co-CEO Greg Peters said on the company’s earnings call last month. “We’re talking about $140 billion worth of consumer spend on games outside of China and outside of Russia. And from a strategic perspective, we believe that we can build games into a strong content category, leveraging our current core film and series by connecting members, especially members that are fans of specific IPs, with games that they will love.”
The “Grand Theft Auto” series is one of the most iconic titles in gaming. Publisher Take-Two Interactive said the franchise, which includes “Grand Theft Auto III,” “Grand Theft Auto: Vice City,” Grand Theft Auto: San Andreas,” “Grand Theft Auto IV,” and “Grand Theft Auto V,” has sold more than 410 million units as of the company’s latest earnings report.
The latest game, “Grand Theft Auto V,” was the fastest retail property to reach $1 billion in sales. “Grand Theft Auto Online,” an offshoot of “Grand Theft Auto V,” continues to generate millions of dollars for the publisher.
The announcement comes as Take-Two prepares for the release of the first trailer for the highly anticipated “Grand Theft Auto VI” in December. The full game is expected to hit stores sometime in 2024.
Read More: Stocks go nowhere after Fedspeak, strong GDP data