Xbox reportedly turned down a $500 million deal from Netflix to adapt its video game properties
Netflix offered Microsoft’s Xbox division $500 million for seven-year exclusive rights to adapt its gaming portfolio into films and television series. The offer was made by Netflix’s chief content officer Bela Bajaria. However, Xbox executives, including Asha Sharma, declined and countered with a request for $800 million instead.
The substantially higher asking price prompted Netflix to withdraw from negotiations. The failed deal was further complicated by organizational changes at Netflix: Bajaria departed her role as chief content officer earlier this month and was replaced by Peter Rice, a former Disney and Fox executive. With Bajaria’s departure, momentum behind the initiative reportedly evaporated within Netflix.
Following the breakdown of negotiations, Xbox is now pursuing smaller, non-exclusive licensing deals with multiple partners rather than seeking a single large exclusive agreement. The failed negotiation underscores the competitive landscape for gaming intellectual property, as major streaming platforms vie for original content and gaming companies seek to capitalize on the growing popularity of video game adaptations for film and television.