to Business Insider.The report Thursday noted that Netflix has made strategic purchases in the past, notably in animation — it bought Australian animation studio Animal Logic last year — and its games business, including its buys of “Oxenfree” maker Night School in 2021 and Spry Fox in 2022.
It also bought the Roald Dahl Story Company in 2021, with the intent to use the “Willy Wonka” author’s titles to deepen its original programming.But now, for the first time since its founding 25 years ago, Netflix is looking for M&A to play a bigger role, the report said.
Among the catalysts are the need to find new avenues for boosting subscribers, even as it separately efforts to sign up users who were avoiding payment by sharing passwords to access the streaming giant’s service.
The company reported a net gain of just 1.75 million subscribers in the first three months of the year. The password sharing crackdown has reportedly been a positive, with new signups jumping to a point that beat out the surge it saw during the early days of the COVID-19 pandemic.A banker who’s had conversations with the company told the outlet: “They’re open for business — that’s a new evolution.”The streaming giant said it had more than $6.7 billion in cash at the end of the first quarter.
Read more on thewrap.com
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