Content streaming giant Netflix has revealed that the company does not have any current plans in place for further studio acquisitions. As reported by VGC, this information comes from a recent earnings call.
COO Gregory Peters said that the company wouldn’t go on an acquisition spree, but instead make purchases sparingly when the time is right. He said, “It’s something that will be opportunistic. So, I would say don’t expect us to go on a tearing, buying spree or something like that. This will be one of the tools that we use, and we’ll use it opportunistically when we find a great opportunity out there.”
Spencer Wang, the company’s VP of finance also added, “You can tell from our track record, we are fairly selective when it comes to M&A. But as Greg said, when an opportunity presents itself, where we feel like we’re aligned with the company, I think that’s an opportunity we’ll take. But again, it’s not – nothing more than that.”
Netflix recently acquired Night School Studio, the developer behind the critically acclaimed Oxenfree. The studio is currently hard at work on Oxenfree 2, slated for release in 2022. Netflix has also started testing its cloud streaming services on Android phones in select regions such as Poland, and its initial offering of games include two 16-bit Stranger Things games alongside, of course, Oxenfree.