Netflix has acquired Next Games, a mobile game developer, for approximately $72 million, the company announced on Wednesday.

The Finnish studio has developed phone games based on popular shows such as “Stranger Things” and “The Walking Dead,” and the agreement is likely to help Netflix expand its global mobile gaming business.

Netflix’s new subscriber count hit a high of 36 million in 2020, but growth has slowed since then, with only 18.2 million new subscriptions gained in 2021. Netflix’s next move for expansion could be to focus on mobile games.

Verdu said Next Games would be key to Netflix’s gaming push.

“We are excited for Next Games to join Netflix as a core studio in a strategic region and key talent market, expanding our internal game studio capabilities,” he said in a statement on Wednesday.

“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 was founded in 2013 and makes a game called “Stranger Things: Puzzle Tales,” a mobile role-playing game.

Source: CNBC