NFLX Up By 4% After Netflix Completes The Acquisition of Night School

Netflix is one of the leading filmmakers and streaming platforms in the world, but the company is now expanding into new terrain; gaming.

Netflix Completes The Acquisition of Night School

Leading streaming platform Netflix has announced that it has completed the acquisition of Night School. The gaming studio is known for developing games and is behind the popular game Oxenfree.

According to Netflix, this is the first time it is entering the gaming sector. The streaming company intends to expand its presence in the gaming sector over the coming months and years. Mike Verdu, Netflix’s VP  of game development, stated that Night School’s commitment to artistic excellence and superb track record makes them valuable.

The VP added that Netflix is dedicated to building the creative capabilities and library of Netflix games with Night School. He added that Netflix intends to introduce exclusive games designed for various categories of gamers. The games will be included with its membership, and users will get to enjoy them with no ads or in-app purchases.

Night School founder Sean Krankel stated that Netflix provides movies, TV and game makers’ unique canvas to create and deliver superb entertainment to millions of people globally. “Our explorations in narrative gameplay and Netflix’s track record of supporting diverse storytellers was such a natural pairing,” he added.

Netflix became popular over the past few years for its streaming platform. Hundreds of millions of people globally watch TV shows and movies on Netflix, with its subscription-based model copied by numerous other studios.

However, Netflix is seeking to expand its coverage into other entertainment sectors, and gaming is one of the fastest-growing in the world.

NFLX Up By More Than 4%

The shares of Netflix have been rallying since the company announced a few hours ago that it had acquired Night School. NFLX is up by more than 4% so far today, outperforming numerous stocks in the market.

At the time of writing, NFLX is trading at $609 per share. The stock has also performed well so far this year. NFLX was trading at $522 on January 2. However, its price has gone up by more than 10% so far and is now trading close to $610 per share.