netflix

netflix

Netflix/BossFight

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Netflix is doubling down on its push into gaming.

The streamer is launching its own gaming studio out of Helsinki. Previously, Netflix’s gaming strategy has been acquisition-based; it bought Next Games, Boss Fight Studios and Night School Studio within the last year. Former Zynga and Electronic Arts executive Marko Lastikka will lead the Finnish studio. Developing a new studio is a bold move for a company whose previous gaming endeavors have been labeled a failure.

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Photo by Thibault Penin on Unsplash

Mickey Mouse has won the latest battle in the streaming wars—but at a big cost.

Burbank-based Walt Disney Co. surpassed Netflix in total subscribers after signing up way more customers than expected during its most recent quarter. The strong growth helped boost the company’s share price in after-hours trading on Wednesday and signaled that the streaming market isn’t nearing saturation yet—despite the recent doom and gloom surrounding the business.

Yet Disney also lost $1.1 billion on streaming during the fiscal third quarter, much more than the roughly $300 million lost this time last year. That’s likely a big reason why the company also announced price hikes for Disney Plus—its flagship streaming service— as the entertainment giant tries to generate more revenue from the money-losing business.

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