Gaming Will Keep Growing Despite Economic Woes, Netflix Exec Says

Christian Hetrick

Christian Hetrick is dot.LA's Entertainment Tech Reporter. He was formerly a business reporter for the Philadelphia Inquirer and reported on New Jersey politics for the Observer and the Press of Atlantic City.

Gaming Will Keep Growing Despite Economic Woes, Netflix Exec Says
Photo courtesy of Netflix

The economic headwinds that are hurting tech companies these days won’t halt gaming’s growing popularity, according to Netflix Vice President of Games Mike Verdu.

During a panel discussion Tuesday at the Montgomery Summit conference in Santa Monica, Verdu said the roughly 3 billion people who currently play video games will continue to grow in number. He agreed that gaming can even be countercyclical—meaning that the industry can sometimes do better during tough economic conditions. And he predicted that the industry will continue to see more consolidation as tech and media giants, including Netflix, gobble up game developers.


“The genres and categories that are open to people will keep increasing, so I think you'll see richer and deeper experiences, as well as games that will draw people in who have never played games before,” Verdu said.

Verdu spoke at the Montgomery Summit on the same day that his company announced the release of four new mobile games this month. Netflix, which is dealing with a startling decline in subscribers, has aggressively expanded into gaming since late last year and will soon have 22 titles under its belt.

The strategy could help Netflix hang onto subscribers by making its monthly subscription more valuable. Verdu noted that the subscription model also frees developers to design mobile games that might not work with a free-to-play model, in which games rely on advertising and in-game purchases to make money. By bundling games into its subscription, Netflix hopes to “drive this explosion of innovation in the creative space,” he said.

“We're not trying to convert you, we're not trying to monetize you—we're trying to give you joy and delight to create an experience that will get you to come back,” Verdu added.

When asked about the metaverse—the loosely-defined term for immersive and extensive online worlds—Verdu said he hopes the experience is not limited to virtual reality.

“My hope is that the metaverse will be accessible through your phone, as well as through your VR headset,” he said. “Maybe your VR headsets give you a better flavor of it or a more immersive flavor of it, but there's no reason why it can't be distributed across devices.”

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Henrik Fisker Says Tesla Price Cuts Haven’t Fazed Ocean Rollout

David Shultz

David Shultz reports on clean technology and electric vehicles, among other industries, for dot.LA. His writing has appeared in The Atlantic, Outside, Nautilus and many other publications.

A Fisker electric vehicle.​
Courtesy of Fisker

Last week in the dot.LA newsletter I wrote about Tesla’s decision to slash prices by as much as 20% on their vehicles and how the decision might impact Southern California’s EV startups. I called the price cuts a “tough pill to swallow” for Fisker in particular since they would make many of Tesla’s price points more competitive with Fisker’s first production model, The Ocean.

The Ocean is currently undergoing homologation, but Henrik Fisker, the company’s CEO, confirmed to dot.LA that the company hopes the process to be completed at the end of February. From there, it could take several weeks to ship the SUVs from Austria to the United States.

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Diankha Linear on How Community Is Revolutionizing Text Marketing

Spencer Rascoff

Spencer Rascoff serves as executive chairman of dot.LA. He is an entrepreneur and company leader who co-founded Zillow, Hotwire, dot.LA, Pacaso and Supernova, and who served as Zillow's CEO for a decade. During Spencer's time as CEO, Zillow won dozens of "best places to work" awards as it grew to over 4,500 employees, $3 billion in revenue, and $10 billion in market capitalization. Prior to Zillow, Spencer co-founded and was VP Corporate Development of Hotwire, which was sold to Expedia for $685 million in 2003. Through his startup studio and venture capital firm, 75 & Sunny, Spencer is an active angel investor in over 100 companies and is incubating several more.

​Diankha Linear
Diankha Linear

On this episode of Office Hours, Community CEO Diankha Linear joins host Spencer Rascoff to discuss her foray into the startup world and the strategic approaching to scaling up.

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LA Tech ‘Moves’: Dreamscape, LinQuest and PetDX Gain New CEOs

Decerry Donato

Decerry Donato is a reporter at dot.LA. Prior to that, she was an editorial fellow at the company. Decerry received her bachelor's degree in literary journalism from the University of California, Irvine. She continues to write stories to inform the community about issues or events that take place in the L.A. area. On the weekends, she can be found hiking in the Angeles National forest or sifting through racks at your local thrift store.

LA Tech ‘Moves’: Dreamscape, LinQuest and PetDX Gain New CEOs

“Moves,” our roundup of job changes in L.A. tech, is presented by Interchange.LA, dot.LA's recruiting and career platform connecting Southern California's most exciting companies with top tech talent. Create a free Interchange.LA profile here—and if you're looking for ways to supercharge your recruiting efforts, find out more about Interchange.LA's white-glove recruiting service by emailing Sharmineh O’Farrill Lewis (sharmineh@dot.la). Please send job changes and personnel moves to moves@dot.la.

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