Netflix Offered Xbox $500M for Film and TV Rights; Xbox Asked $800M

Netflix offered Microsoft $500 million over seven years to exclusively license Xbox games for film and TV adaptations, and Xbox CEO Asha Sharma and her business affairs team countered at $800 million, Puck's Matthew Belloni reported, citing three sources. The offer reportedly came from Netflix chief content officer Bela Bajaria and is now "entirely off the table" after she left the company in mid-October, as Netflix announced 1,000 job cuts, per Insider Gaming.

Xbox didn't confirm or deny the numbers. "We have received record-breaking interest in our I.P.; Netflix is a valued partner and we are excited for the forthcoming release of our Minecraft and Diablo animated series together, among other adaptations," the company said, via Pure Xbox. Netflix didn't comment. Saying no to $500 million is easier when your statement opens with "record-breaking interest."

Xbox is now reportedly pursuing smaller deals with more partners rather than one exclusive package. Netflix has already been building out game adaptations with other publishers, including a Sega partnership covering Crazy Taxi, Sonic and Stranger Than Heaven.

The details

• Reported offer: $500 million over seven years for exclusive Xbox film and TV rights
• Xbox counter: $800 million, from Asha Sharma's team
• Outcome: offer withdrawn after Bajaria's mid-October exit, per Puck
• Xbox's plan: smaller deals with more partners
• Still on: Minecraft and Diablo animated series with Netflix

What Xbox adaptations are already with Netflix?

The two Xbox named are already set up there. The Diablo animated series was announced in September as part of a wider push by Microsoft to adapt franchises including Warcraft and Overwatch, and a Minecraft animated series is also in the works with Netflix. Neither has a release date.

The two sides were $300 million apart on paper and still describe each other as partners.