Netflix Picks Up Night School Studio With an Obvious First Project in Mind
Media-streaming veteran Netflix (NASDAQ: NFLX) has gone shopping again. The company didn't buy a content portfolio this time. It wasn't even a movie production set. Netflix wants to develop original content for its budding video gaming service, too, so this week's buyout involves a smallish video game producer named Night School Studio.
I think I know what the new Netflix subsidiary will be working on right away. Beyond that, let's think about how Netflix's buyout strategy is helping the company achieve its business goals.
Night School Studios is a fairly small but well-respected game developer. Founded by a former Telltale Studio developer, the company with 30 names on its payroll posted revenue of $5 million last year. Those figures are mere rounding errors in the far larger Netflix business, which employs more than 9,400 people and generated $25 billion of top-line sales in 2020.
Source Fool.com
