Netflix reportedly offered Xbox $500m for a bigger adaptations deal
A reported seven-year Netflix deal for Xbox game adaptations collapsed after Xbox allegedly countered with an $800m asking price.
Netflix reportedly offered Xbox $500 million for an exclusive seven-year deal to turn Xbox game properties into films and television shows, but the proposal appears to have collapsed after Xbox allegedly returned with an $800 million counter-offer. The figures come from Puck News’ Matt Belloni, as reported by Eurogamer, rather than from a formal announcement by either company. 1
What reportedly happened
According to the report, former Netflix chief content officer Bela Bajaria approached Xbox about licensing its games. Xbox CEO Asha Sharma and the division’s business affairs team then allegedly pushed back with a much larger price. Netflix CFO Spence Neumann was reportedly among the executives who decided the counter-offer was too expensive, while Bajaria’s departure further complicated the negotiations. 1 2
The exact Xbox properties that might have been included remain unclear. That uncertainty matters: the reported proposal was not a confirmed slate, and neither company has announced that the wider deal existed in the form described. Xbox did, however, tell Puck News that it had received “record-breaking interest” in its intellectual property and that Netflix remained a valued partner. 1
Netflix and Xbox still have adaptations in flight
The collapse of this larger proposal does not mean Netflix and Xbox have stopped working together. Animated shows based on Minecraft and Diablo are already in development, while a live-action Gears of War film is also still being pursued. Xbox’s existing adaptation activity gives Netflix a route into the publisher’s catalogue without committing to one enormous, all-encompassing licensing fee.
The reported arrangement also arrives at a moment when game adaptations are attracting serious film and television money. The Last of Us, Fallout, Sonic the Hedgehog and The Super Mario Bros. Movie have demonstrated the commercial upside, while less successful releases have shown that recognisable names alone do not guarantee an audience. That makes a seven-year exclusivity commitment a much riskier proposition than simply commissioning a handful of targeted projects.
Our opinion
The interesting part is not the alleged $500 million offer by itself, but the gap between a broad licence and the practical work of adapting games well. Xbox owns a deep catalogue, yet every property needs the right format, creative team and budget. A smaller deal may ultimately be more useful: it lets Netflix test individual worlds instead of paying upfront for a promise that every adaptation will travel.
For now, the confirmed story is narrower than the rumour. Netflix and Xbox still have named projects in progress, but the bigger deal remains a reported negotiation rather than an announced partnership.