Xbox Reportedly Lost a Big Netflix Adaptation Deal
Xbox and Netflix were reportedly close to a huge IP deal, but talks fell apart after Microsoft asked for more money. Xbox is now looking at smaller partner deals.
AI-generated summary based on reporting by Kotaku.
Xbox is reportedly building up its cross-media plans after a major deal with Netflix fell apart. Microsoft recently announced a new department focused on developing properties across film and TV.
According to a report, Netflix had been ready to pay $500 million for exclusive rights to adapt a large share of Xbox’s game IP over seven years. Xbox CEO Asha Sharma reportedly pushed for $800 million instead, and Netflix walked away.
Xbox says Netflix remains a partner and says it has seen record-breaking interest in adapting its games. The company already has animated projects in the works for Minecraft and Diablo.
After the failed talks, Xbox is said to be shifting toward smaller deals with several production partners instead of one big all-in agreement. The move comes as game companies keep looking for ways to turn popular games into film and TV projects.
Read the original story at Kotaku →