Netflix reportedly offered Xbox $500m for major film and TV deal
A major partnership between Netflix and Xbox to adapt gaming franchises into films and TV shows has reportedly fallen through. According to Matt Belloni of Puck News, the deal collapsed due to a significant disagreement over the price tag.
The proposed agreement would have granted Netflix exclusive rights to turn Xbox titles into streaming content over a seven-year period. While Netflix was reportedly willing to commit $500 million to the deal, Xbox CEO Asha Sharma and the division's business affairs team countered with a request for $800 million. The gap was reportedly too large for Netflix CFO Spence Neumann, and the departure of former CCO Bela Bajaria also played a role in the negotiations stalling.
Despite the failure of this massive deal, the two companies are still collaborating on specific projects. Animated series based on Minecraft and Diablo are already in development, alongside a live-action Gears of War film. Xbox confirmed to Puck News that Netflix remains a valued partner and that they are continuing to pursue smaller licensing deals for their IP.
The collapse comes as studios race to secure gaming licenses following the success of properties like Fallout and The Last of Us. While Amazon moves forward with Wolfenstein and Paramount develops a Call of Duty movie, Xbox appears to be shifting its strategy toward more targeted, smaller-scale adaptations.
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