Streaming entertainment giant Netflix (NASDAQ: NFLX) made waves in the gaming arena last week, announcing it plans to produce its own video games.
That news could carry with it implications for exchange traded funds like the ARK Next Generation Internet ETF (NYSEArca: ARKW). The actively managed ARKW counts Netflix among its smaller holdings.
Last week, Netflix “hired EA and Facebook veteran Mike Verdu to lead a new video gaming effort. As Vice President of Game Development, Mike will add video games to the Netflix platform within a year. While we can only speculate about its potential success; we can understand why Netflix is adding video games to its platform,” notes ARK analyst Nick Grous.
Netflix’s foray into video games is notable not only because the industry checks a box as a fast-growing disruptive segment, but also because this is an arena where some other well-known…
