A seven-year exclusive deal for Xbox film and TV rights fell apart, and Xbox says it is seeing "record-breaking interest" in its franchises.
According to a report from Puck, citing three sources and summarized by VGC on October 23, Netflix offered Xbox $500 million for a seven-year deal giving it exclusive rights to make shows and films based on Xbox games. Xbox CEO Asha Sharma and her team countered at $800 million. The Verge reports that Netflix has since pulled the offer, in a Puck story about new leadership at Netflix. Xbox is now said to be pursuing “smaller deals with more partners” instead of one big exclusive.
Xbox did not deny the report. In a statement to Puck, it said: “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.” Netflix declined to comment.
Some context. Xbox launched a new division this month focused on adapting its games, per The Verge. Netflix is already working with Xbox on Minecraft and Diablo animated series. Paramount’s live-action Halo series ran for two seasons and was cancelled in July 2024, per VGC.
This is still a report from unnamed sources, and neither company has confirmed the dollar figures.
Locking every Xbox franchise to one streamer for seven years would have been too much power to hand over. If Netflix only wants to make a few things, the rest of the catalog just sits there for years. Keeping it open means each franchise can go to whoever has the best idea for it, and “record-breaking interest” tells you the market knows what Halo, Fallout, Minecraft and the rest are worth. Xbox did not sell itself short, and that is a good sign for fans who want these worlds done right on screen.
Sources
- VGC: Xbox wanted $800 million from Netflix for 7 years of its biggest characters, it’s claimed
- The Verge: Netflix reportedly offered Microsoft $500 million to license Xbox games for adaptations
- Puck (original report, subscription): puck.news
