Recent reports indicate that Netflix offered $500 million to negotiate a seven-year film and TV adaptation rights deal for Xbox's game IPs, but the two parties ultimately failed to reach an agreement. Xbox reportedly requested an additional $300 million, raising the total transaction value to $800 million, after which Netflix withdrew from negotiations.
Entertainment industry media outlet Puck reported that this proposal was put forward by then-Netflix Head of Content Bela Bajaria. After Bajaria's departure, the original offer was withdrawn; Netflix CFO Spence Neumann and other management figures reportedly considered the deal price too high.
Subsequently, Xbox reportedly adjusted its collaboration strategy, no longer seeking a single partner to secure a seven-year licensing deal, but instead advancing film and TV projects with multiple partners separately. Xbox CEO Asha Sharma established the XP division this month, responsible for expanding Xbox brands through adaptations.
Existing collaborations have not all ceased. The Gotham Racing Plan 3 has already partnered with Netflix to advance the Diablo animated series, and a Minecraft animated series is also in development. Xbox did not confirm the reported offer and price increase details, but stated that its intellectual properties received "record-breaking" interest, and affirmed that Netflix remains an important partner, looking forward to the release of both animated projects.