Xbox reportedly wants US$800 million for exclusive Netflix licensing deal.
Netflix has reportedly offered Microsoft’s Xbox half a million dollars to exclusively license its gaming franchises for film and television adaptations. Xbox responded with a bigger counter-offer, but internal changes at Netflix have reportedly prevented the deal from materialising.
What we know about the Netflix-Xbox licensing deal
According to journalist Matthew Belloni of PuckNews, (reported by GamesRadar), Netflix’s former Chief Content Officer, Bela Bajaria, had offered US$500 million to exclusively license Xbox titles for film and television adaptations. Xbox, led by CEO Asha Sharma, made a counter-offer of US$800 million.
However, Bajaria was reportedly removed from her position last week and subsequently replaced by Peter Rice, a former Disney executive. The leadership change came amid major layoffs at Netflix, which reportedly affected 1,000 employees.
With Bajaria no longer at the company, the deal is said to be ‘off the table’, while Xbox is allegedly ‘pursuing smaller deals with more partners’.
According to the report, Netflix declined to comment on the licensing deal, while Xbox reportedly stated:
‘We have received record-breaking interest in our IP; 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 Xbox games are getting adaptations?
Film and television adaptations have become an increasingly prominent part of the video game industry, with more gaming franchises making their way to the big screen.
Xbox has recently established Xbox XP, a new division focused on film and television adaptations, signaling its intention to expand further into this space.
One of its biggest franchises, Minecraft, already saw meteoric success with its live-action adaptation last year. Although it received mixed reviews from critics, the film grossed nearly US$1 billion worldwide, making it one of the highest-grossing video game adaptations of all time.
Xbox has already greenlit a sequel for the Minecraft live-action, and it is also currently working with Netflix for an animated television adaptation of Blizzard’s Diablo franchise. The company is also reportedly working on a Gears of War film and animated series, a live-action Sea of Thieves film and a Call of Duty live-action film at Paramount.
Beyond Xbox, numerous other video game franchises are receiving film and television adaptations. Capcom’s Resident Evil franchise has returned to the big screen with a new film–achieving great critical and box office success. The studio also welcomed a Street Fighter live-action adaptation recently.
Other successful adaptations include The Super Mario Bros. Movie, Sonic the Hedgehog and Uncharted. More are in the works, with Amazon developing projects based on God of War, Tomb Raider, and Mass Effect.
