Streaming giant Netflix (NASDAQ:NFLX) is adding three iconic titles from the “Grand Theft Auto” (GTA) gaming series to its video game library soon. The three games include “Grand Theft Auto III – The Definitive Edition,″ ”Grand Theft Auto: Vice City – The Definitive Edition” and “Grand Theft Auto: San Andreas – The Definitive Edition.” The GTA titles will be available on the Netflix app starting December 14. The step is presumably aimed at attracting more subscribers.
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GTA is one of the most popular games, selling over 410 million copies worldwide. The GTA addition could significantly enhance Netflix’s game offerings. The company made an entry into the multi-billion-dollar gaming market with the launch of Netflix Games in 2021. The segment provides games to existing subscribers without additional charges.
The entertainment company had plans to add more than 40 new games to its library in 2023. Earlier this month, Netflix announced that it will introduce new games based on some of its original content and award-winning shows, such as Money Heist and Shadow and Bone. After witnessing sequential quarters of sluggish subscriber growth, Netflix finally reported a solid addition of 8.76 million subscribers in its Q3FY24 results. Only time will tell whether the expanding gaming library works magic for Netflix.
Is NFLX a Good Buy?
Wall Street remains cautiously optimistic about NFLX’s trajectory. On TipRanks, Netflix stock has a Moderate Buy consensus rating based on 24 Buys, 10 Holds, and one Sell rating. Also, the average Netflix price target of $465.97 implies 2.4% downside potential from current levels. Year-to-date, NFLX stock has gained 61.8%.
