(LR) Netflix Co-CEOs Reed Hastings and Ted Sarandos attend the Allen & Company Sun Valley Conference on July 06, 2021 in Sun Valley, Idaho.
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Netflix has hired video game manager Mike Verdu from Facebook, where he served as vice president of augmented reality and virtual reality content, as the company makes a deeper foray into the gaming industry.
Before joining Facebook for two years, Verdu worked for game companies Electronic Arts, Kabam, Zynga and Atari until the late 1990s. A Netflix spokesperson confirmed the hiring Bloomberg first reported.
Netflix stock rose 2% in expanded trading on Wednesday.
The move reflects Netflix’s ambition to offer more than just TV shows and movies to its 200-plus million subscribers. Like the streaming business, online gaming is getting more competitive as Amazon, Google, and Microsoft all invest in the category.
Netflix has been slowly entering the market for about two years. The company announced at the E3 gaming conference in 2019 that it is releasing a mobile game based on the “Stranger Things” series based on the “Stranger Things” series, Dark Crystal: Age of, following the announced launch of Stranger Things 3: The Game “for consoles and PCs Resistance Tactics as an adaptation of the Netflix film “The Dark Crystal: Age of Resistance”.
In its 2019 shareholder letter, Netflix pointed to the game Fortnite as a competitor. The information reported in May that Netflix was looking for an executive to break into gaming.
– CNBC’s Alex Sherman and Ari Levy contributed to this report.
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