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Netflix Enters Deal to Acquire Finland's Next Games

Netflix is attempting to diversify into the lucrative video game sector. MARIO TAMA GETTY IMAGES NORTH AMERICA/AFP
Netflix is attempting to diversify into the lucrative video game sector. MARIO TAMA GETTY IMAGES NORTH AMERICA/AFP
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Netflix Enters Deal to Acquire Finland's Next Games

Netflix is attempting to diversify into the lucrative video game sector. MARIO TAMA GETTY IMAGES NORTH AMERICA/AFP
Netflix is attempting to diversify into the lucrative video game sector. MARIO TAMA GETTY IMAGES NORTH AMERICA/AFP

Netflix said Wednesday it plans to buy Finnish developer Next Games for more than $70 million, signaling the US streaming giant's intent to expand into the video gaming industry.

Next Games has been developing mobile games since 2013 based on popular television series such as "Stranger Things" and the "The Walking Dead" -- both hits that air on Netflix, AFP said.

"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," Michael Verdu, vice president of games at Netflix, said in a statement.

"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."

The deal will be financed in cash through the purchase of Next Games' shares and has already been recommended by the gaming company's board of directors, Netflix said.

Next Games' shares, listed on the Helsinki Stock Exchange, soared nearly 120 percent following the announcement.

Next Games CEO Teemu Huuhtanen said in the statement that the firm has always been focused on becoming "the partner of choice for global entertainment businesses" to create gaming based on the world's most popular entertainment franchises.

"Joining forces with the world's largest streaming service, Netflix, presents an opportunity for a logical and exciting continuation of our strategy to craft interactive experiences for the world to enjoy," he said.

Netflix is attempting to diversify into the lucrative video game sector as it competes with other streaming platforms such as Disney+ and HBO Max.

The California-based group announced last September that it had acquired its first video game studio, Night School Studio, creators of the supernatural thriller "Oxenfree."

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Fans Celebrate ‘Squid Game’ Finale with Seoul Parade

Performers dressed as "Squid Game" soldiers march in a parade through central Seoul, followed by a fan event with cast to celebrate the release of the third season of Netflix's hit series, in Seoul, South Korea, June 28, 2025. (Reuters)
Performers dressed as "Squid Game" soldiers march in a parade through central Seoul, followed by a fan event with cast to celebrate the release of the third season of Netflix's hit series, in Seoul, South Korea, June 28, 2025. (Reuters)
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Fans Celebrate ‘Squid Game’ Finale with Seoul Parade

Performers dressed as "Squid Game" soldiers march in a parade through central Seoul, followed by a fan event with cast to celebrate the release of the third season of Netflix's hit series, in Seoul, South Korea, June 28, 2025. (Reuters)
Performers dressed as "Squid Game" soldiers march in a parade through central Seoul, followed by a fan event with cast to celebrate the release of the third season of Netflix's hit series, in Seoul, South Korea, June 28, 2025. (Reuters)

Thousands of fans gathered in Seoul on Saturday to celebrate the final "Squid Game" season, ending a global Netflix hit that is seen as a symbol of South Korea's cultural clout.

The third and final season was released Friday, concluding the series that sees desperate people compete in deadly versions of traditional children's games for a massive cash prize.

Director Hwang Dong-hyuk said he had "poured everything" into the series, which launched nearly four years ago.

"So while it's sentimental to see it end," he said, "there's also a sense of relief".

Fans gathered near Seoul's Gyeongbokgung Palace, led by marchers dressed in the bright pink uniforms worn by the show's mysterious masked agents.

They were followed by others carrying oversize toys from one of the games featured in the series, along with the show's flag.

Park Sang-gyu, a fan who stayed up all night watching the final season, said the dystopian drama was "ultimately a story about people".

"As you watch, you realize it's not just about the games -- it reflects many aspects of real life."

The walls of the Seoul Metropolitan Library were lit up with key scenes, including Young-hee -- the giant motion-sensing animatronic doll featured in one of its brutal games.

Lee Byung-hun, who played the masked Front Man overseeing the competition, said the show had become "something of a cultural phenomenon".

"One that has drawn one of the boldest lines in the history of Korean content," he said.

The first two seasons of the series are among Netflix's most-watched shows, and in 2022, Hwang and the show's leading actor, Lee Jung-jae, became the first Asian men to win Emmy Awards.

The final season follows its hero Gi-hun, played by Lee, as he returns to the ultra-violent games to dismantle them from within after surviving the first round.

Along with filmmaker Bong Joon-ho's Oscar-winning 2019 thriller "Parasite" and K-pop sensation BTS, "Squid Game" is considered one of the most powerful examples of South Korea's rise as a global cultural force.