Netflix Streamlines Gaming Division, Shuts Down Squid Game Studio

Netflix has made the tough call to close down Boss Fight Entertainment, the studio behind the popular mobile game Squid Game: Unleashed. Despite the game’s success with over 10 million downloads and reaching #1 in 107 countries, the studio is shutting its doors just three years after Netflix acquired it.

During a recent earnings call, Co-CEO Greg Peters highlighted Squid Game: Unleashed as a prime example of the narrative gaming Netflix aims to focus on. Boss Fight Entertainment played a vital role in Netflix’s interactive entertainment initiatives, creating games like Netflix Stories and interactive experiences based on popular Netflix shows like Love Is Blind and Emily in Paris.

As Netflix’s gaming division shifts its focus towards TV-based gaming experiences where users can utilize their phones as controllers, new releases like LEGO Party! and Pictionary: Game Night are in the works under the guidance of gaming president Alain Tascan. The company is moving towards party games, narrative-driven content, and kid-friendly titles directly playable on TVs.

When it comes to investing in Netflix, analysts on TipRanks have given NFLX stock a Moderate Buy consensus rating, with a target price of $1,402.19 representing a potential 28.09% upside from the current level.