Netflix stops hyping new ventures

Netflix co-CEO Ted Sarandos had nothing to say about video games or podcasts when the company released third-quarter earnings on Tuesday, a sharp change from years of investor enthusiasm.

Years of games optimism

Netflix launched its games business in twenty twenty-one and has consistently promoted it to investors. In twenty twenty-two, cofounder Reed Hastings predicted Netflix would eventually be a big leader in games.

“be a big leader in games”

Recent games messaging

Last quarter, Netflix highlighted a new World Cup game and an app for kids games, saying it had increasing confidence in building a foundation with exciting future growth potential.

“increasing confidence that we are building a foundation with exciting future growth potential”

Podcasts as engagement play

Netflix spent the last two quarters talking up podcasts as a potential incremental engagement opportunity, saying they gave viewers reasons to watch during the day and on mobile phones.

“potential incremental engagement opportunity”

The Wall Street Journal reports shift

The Wall Street Journal reported that Netflix has recently stopped pushing games and podcasts, focusing more on its core movie and TV offerings instead.

“stopped pushing games and podcasts, focusing more on its core movie and TV offerings”

Netflix signals low near-term impact

By going silent on games and podcasts, Netflix appears to be signalling it does not think these ventures will do much for its business in the near future.