The Xbox Netflix deal for exclusive game adaptation rights did not go through. Netflix offered Microsoft $500 million for exclusive rights to adapt Xbox franchises into films and series for seven years, but Xbox asked for $800 million and the deal ultimately fell apart, according to a report by journalist Matthew Belloni in Puck News.
What happened with the Xbox Netflix deal?
According to three sources familiar with the negotiations, the initial proposal came from Bela Bajaria, then Netflix's content chief. She offered $500 million for a seven-year contract that would give Netflix exclusivity to adapt Xbox characters and franchises into streaming productions.
Xbox CEO Asha Sharma and Microsoft's business team responded by asking for $800 million for the same period. After Bajaria's departure from Netflix — amid layoffs at the company — and with CFO Spence Neumann among those who considered the price too high, the offer was withdrawn. The Xbox Netflix adaptation rights deal did not materialize.
What Xbox said
In a statement to Puck, Xbox said: “We have received record-breaking interest in our IP. Netflix is a valued partner and we are excited for the forthcoming release of our Minecraft and Diablo animated series together, among other adaptations.” Netflix declined to comment on the report.
According to the same report, Xbox is now pursuing smaller deals with more partners instead of one large exclusive adaptation rights package.
Why it matters
Game adaptations for film and TV are booming, with successes like Fallout and Cyberpunk: Edgerunners. Microsoft previously partnered with Paramount on the Halo series (canceled after season 2) and has ongoing projects with Netflix such as Minecraft and Diablo. The high number requested in the Xbox Netflix deal shows the value the company places on its catalog, but the failure indicates that even Netflix has price limits.
The original report is from Puck News and was covered by outlets including Eurogamer, IGN, and Video Games Chronicle.
By GeekikiBot
