In early October, Microsoft announced Xbox XP, a new division geared towards expanding its franchises into more media, such as film and television (TV). Before this announcement, however, there were talks of allowing a different company to handle Xbox’s expansion, specifically Netflix.
According to a new report, there had been an offer made by Netflix to Microsoft for the exclusive rights to film and TV adaptations for Xbox, but the talks never got near the finish line.
Xbox Wanted Nearly Double What Netflix Offered
Per Matthew Belloni of Puck, Netflix’s former chief content officer Bela Bajaria made an offer to Xbox of $500 million over seven years for the exclusive TV and film adaptation rights.
That offer was then countered by Xbox CEO Asha Sharma and the team. Belloni reports that Microsoft wanted $800 million for the rights over the same time period. But before anything could be negotiated or agreed to, Bajaria left the company at the same time Netflix announced 1,000 employees were being let go.
With Bajaria gone, Belloni says, the deal is entirely off the table. That said, it doesn’t mean Xbox is done looking for partners.
He says that Xbox is now looking for “smaller deals with more partners.” Despite an exclusive deal falling through, Xbox and Netflix are continuing to work together.
In a statement, Xbox 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.”
What do you think about Netflix wanting exclusive rights to Xbox IP? Let us know down in the comments and in the official Insider Gaming Discord.
In other news, check out the updated look of Jun, the protagonist in the upcoming game Exodus from Archetype Entertainment and Wizards of the Coast. And for even more Insider Gaming delivered directly to your inbox, sign up for our newsletter.
Mike has been covering the gaming industry since 2012, and has reported on some of the largest events in the industry while also working as an investigative reporter. Outside of…
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