Netflix Will Buy Finnish Mobile Games Developer Next Games For $72 Million

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.

Netflix Will Buy Finnish Mobile Games Developer Next Games For $72 Million
Photo by David Balev on Unsplash

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Netflix plans to buy Finnish mobile games developer Next Games for $72 million, the companies announced Wednesday, in a deal that sees the streaming giant continue its push into gaming.


The transaction is expected to close in the second quarter of this year and would be Netflix’s second acquisition of a gaming studio in less than six months, following its September acquisition of Glendale-based gaming studio Night School. The streaming service, which has a huge footprint in Los Angeles, has looked to expand its offerings beyond traditional movies and TV shows—launching video games for mobile devices last year and adding interactive movies and shows to its platform.

Founded in 2013, Next Games develops mobile games based on popular entertainment intellectual property, including games inspired by the Netflix hit series “Stranger Things” and AMC’s “The Walking Dead.” The Helsinki-based firm has roughly 120 employees and reported about $30 million in sales in 2020, with 95% of its revenue coming from in-game purchases in its otherwise free-to-play games, according to the company.

"Next Games has a seasoned management team, strong track record with mobile games based on entertainment franchises and solid operational capabilities," Michael Verdu, Netflix’s vice president of games, said in a statement. "While we're just getting started in games, I am confident that together with Next Games we will be able to build a portfolio of world class games that will delight our members around the world.”

Next Games shareholders will receive 2.10 euros in cash for each share of the company, amounting to a total equity value of about 65 million euros ($72 million). The gaming studio’s board unanimously recommended that the shareholders accept the Netflix offer.

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Genies Wants To Help Creators Build ‘Avatar Ecosystems’

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.

Genies Wants To Help Creators Build ‘Avatar Ecosystems’

When avatar startup Genies raised $150 million in April, the company released an unusual message to the public: “Farewell.”

The Marina del Rey-based unicorn, which makes cartoon-like avatars for celebrities and aims to “build an avatar for every single person on Earth,” didn’t go under. Rather, Genies announced it would stay quiet for a while to focus on building avatar-creation products.

Genies representatives told dot.LA that the firm is now seeking more creators to try its creation tools for 3D avatars, digital fashion items and virtual experiences. On Thursday, the startup launched a three-week program called DIY Collective, which will mentor and financially support up-and-coming creatives.

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Here's What To Expect At LA Tech Week

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.

Here's What To Expect At LA Tech Week

LA Tech Week—a weeklong showcase of the region’s growing startup ecosystem—is coming this August.

The seven-day series of events, from Aug. 15 through Aug. 21, is a chance for the Los Angeles startup community to network, share insights and pitch themselves to investors. It comes a year after hundreds of people gathered for a similar event that allowed the L.A. tech community—often in the shadow of Silicon Valley—to flex its muscles.

From fireside chats with prominent founders to a panel on aerospace, here are some highlights from the roughly 30 events happening during LA Tech Week, including one hosted by dot.LA.

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AmazeVR Wants You To Attend K-Pop Concerts Virtually

Kristin Snyder

Kristin Snyder is an editorial intern for dot.la. She previously interned with Tiger Oak Media and led the arts section for UCLA's Daily Bruin.

AmazeVR Wants You To Attend K-Pop Concerts Virtually
Photo courtesy of AmazeVR

Virtual reality startup AmazeVR now has $17 million to further expand its VR concert experience.

The West Hollywood-based company’s latest funding amounts to a bet that virtual shows, a staple of the pandemic, are here to stay. Mirae Asset Capital led the Series B funding round, with Mirae Asset Financial Group subsidiary (Mirae Asset Venture Investment), CJ Investment, Smilegate Investment, GS Futures and LG Technology Ventures investing again. Mobile game maker Krafton joined the group—but South Korean entertainment company CJ ENM’s stake reveals AmazeVR’s plans to expand into K-pop world.

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