Photo: SHYCITY Nikon via Flickr

Streaming giant Netflix Inc NFLX made headlines when it announced it was entering the video game market. While the first games released from Netflix may have been underwhelming, the company has more coming.

Netflix also has a long history with adapting video games into shows and movies for its subscribers. The latest announcement centers on the Capcom “blue bomber” that is Mega Man.

What Happened: Netflix announced it will bring a live-action Mega Man movie to its platform in the future through a partnership with Chernin Entertainment.

“Features in the works include: an adaptation of Capcom’s MEGA MAN for Chernin Entertainment and Netflix, which they wrote and are directing,” the website for Supermarche reads.

The movie comes from Henry Joost and Rel Schulman, best known for the “Catfish” television show and movie.

Mega Man first hit video game consoles in 1987 on the original NES (Nintendo Entertainment System) from Nintendo Co ADR NTDOY.

The movie has been in the works for years and is now confirmed by the writer and director duo and the production company, but no details on how close the movie is to debuting on the streamer are indicated.

Netflix has a first-look deal with Chernin, according to The Verge.

Why It’s Important: Video game adaptations have been sought out by streaming companies and movie and television studios. The content is already there along with built-in fan bases. While the box office results have been mixed, video game adaptations are likely here to stay.

Netflix has had success with some of its most recent video game adaptations. “The Witcher” is one of its most-watched series ever. A highly anticipated sequel to the series hits Netflix on Dec. 17, 2021.

Netflix recently shared that “The Witcher: Season 1” was the third most-watched English series on the streaming platform with 541 million hours. The series trails only “Bridgerton: Season 1” and “Stranger Things 3,” with 625.5 million hours and 582.1 million hours, respectively.

An adaptation of the popular League of Legends game from Tencent Holdings ADR TCEHY called “Arcane” has also seen strong viewership on Netflix and will be adapted for a second season.

“Arcane” has been in the top 10 shows list on Netflix for four straight weeks with viewership of 34.2 million hours, 38.4 million hours, 29.7 million hours and 18.2 million hours, respectively. In its second week on the streaming platform, “Arcane” was the most-watched English series.

Four seasons of “Castlevania” also performed well on Netflix and the streamer said it has a new series in the gaming universe coming in the future.

Other video game adaptations coming to Netflix include series or movies based on Pokemon, Angry Birds, CyberPunk, Sonic the Hedgehog, Assassin’s Creed, Resident Evil and Tomb Raider.

Netflix isn’t the only one betting big on video games. AT&T Inc T released movies based on Monster Hunter and Mortal Kombat along with a The Last of Us series in the works for HBO. 

Amazon.com, Inc.  AMZN is working on a show based on Fallout and a rumored adaptation of Mass Effect.

Popular video game franchise Halo is being turned into a series for streamer Paramount+ from ViacomCBS Inc VIAC.

NFLX Price Action: Netflix shares are down 2.25% to $590.58 on Tuesday morning.