Matt Belloni’s Puck reporting says Netflix proposed $500 million for seven years of exclusive film and television adaptation rights to Xbox properties. Xbox CEO Asha Sharma and her business affairs team countered at $800 million, leaving a $300 million gap. The offer never advanced to negotiations or an agreement.
Bela Bajaria, then Netflix’s chief content officer, left the company as Netflix announced 1,000 job cuts. Former Disney executive Peter Rice replaced her, and the proposal came off the table. Xbox is now pursuing smaller licensing deals with more partners.
In August, Xbox was reportedly pitching a single Hollywood package covering more than a dozen properties, with Netflix, Paramount, and Universal among the companies considering it.
Microsoft announced Xbox XP in early October to extend its franchises across film, television, and other formats. The division’s remit includes adaptations, licensing, brand partnerships, broadcasts, live events, theme parks, and other location-based experiences.
Xbox has described interest in its intellectual property as record-breaking and Netflix as a valued partner, pointing to upcoming animated series based on Minecraft and Diablo, among other adaptations.
How do you think Xbox should balance one large licensing deal against smaller partnerships? Stay connected as Xbox’s adaptation plans and its Netflix projects develop on X, Bluesky, YouTube, Instagram, Steam, and Telegram.
