“$150 Billion Market”: Netflix Talks Big About Gaming Again — Even Though Less Than 1% of Subscribers Play

At a recent investor meeting, Greg Peters explained why Netflix is pushing into games at all. The answer is simple: there’s a lot of money in it. According to Peters, the global gaming market is worth around $150 billion — and Netflix wants a piece.

It sounds ambitious. The reality is more modest. Back in 2022, it was revealed that fewer than 1% of Netflix subscribers were playing its games. The company hasn’t updated that figure since. Peters admitted that the “observable impact of attracting new users through games is still small” — and that there’s “a lot of work ahead” before those ambitions are realized.

Netflix’s gaming journey has been a series of pivots. The company once planned to rent games through its Qwikster service — that didn’t work out. Then it invested in major AAA projects, including a multiplayer shooter led by Joe Staten, a veteran of Halo and Destiny — that studio was shut down in 2024. Now Netflix is focusing on mobile titles, party games, and its kids-oriented Netflix Playground app. Current offerings include Jackbox Party, Red Dead Redemption on mobile, a Happy Gilmore-themed game where you can whack Bob Barker with a golf club, and the sequel to Oxenfree.

Peters, however, remains optimistic — promising “increasingly exciting releases” this year. What those promises will actually turn into remains to be seen.

Do you think Netflix can ever become a serious player in gaming? Share your thoughts in the comments.