Netflix Says Part Of Its Games Business Is Up 600%, But It’s Still Early Days

During an earnings call, Netflix co-CEO Gregory Peters said Netflix continues to be in the building stage for its video game efforts. “We’ve been building some solid foundations, and now we’re seeing exciting positive signals that help inform and give us increased conviction in our future growth and the nature of that growth here,” he said.

Peters went on to say that another “big positive sign” for Netflix Games has been its cloud-based TV games, which began to scale in earnest in October 2025. Since that time, “monthly active players for cloud games have increased 11x, and adoption is significantly ahead of that curve that we had for mobile games with even higher retention value,” he said. “So we’re definitely excited about that and focused on scaling up cloud games.”

Peters said the gaming market is massive, and Netflix is taking it slow as it defines a strategy and determines its investment levels.

“We’re just getting started here. We’re scratching the surface in terms of what we think the total potential of the space offers for us,” he said. “You’re going to see us continue to calibrate and refine our level of investment here, which is still very small relative to our overall content spend based on demonstrated performance based on what is working for our members and what’s delivering returns to our business.”

The next big Netflix game, Netflix Minigolf, launches on July 28, bringing together franchises like Squid Game, Bridgerton, and Stranger Things.

Netflix Games has endured a rocky road in recent years as it set out to establish a strategy. At one point, Netflix invested in AAA games, and hired big names, but those plans fell apart. Today, Netflix is more focused on social and party games that people can play quickly and easily. Netflix Games’ narrative executive Sean Krankel told The Game Business that, in the next couple of years, he wants people to see Netflix as “natural” destination to play games, as opposed to it being perceived like it is today, as “experimental.”

“I would love, in a year or two, for people to be going: ‘This is naturally the place that I would go to play a story’. And that ‘playing a story’ doesn’t sound weird,” he said. “The ambitious thing here is that we create a new way of interacting with story and character that doesn’t feel like you have to be trepidatious or worried about trying it, or, ‘Am I going to be good at this?’”

“The same way that somebody’ll go to Disneyland and jump on a ride or go into an escape room, and it just becomes a new form of entertainment. That’s where I’d love to see this go,” he added.