Netflix offered Microsoft $500 million for exclusive Xbox game adaptations, but Asha wanted $800 million

The deal fell through.

Netflix offered Microsoft $500 million for exclusive rights to adapt Xbox game franchises into films and television series for a period of seven years. However, the parties could not agree on a price, and after the departure of the Netflix executive involved in the negotiations, the deal ultimately lost its prospects. This was reported by journalist Matthew Belloni from Puck.

According to Belloni, the offer came from Bela Bajaria, who served as Netflix's Chief Content Officer. She offered Xbox $500 million for exclusive rights to create films and series based on Microsoft's game franchises for seven years.

However, Xbox head Asha Sharma and her team requested $800 million for the same period.

The negotiations never reached the final stage. Bajaria left the company amid Netflix's announcement of 1,000 employee layoffs. After her departure, the deal, according to Belloni, was ultimately canceled.

At the same time, Microsoft does not intend to abandon the development of its game franchises outside of video games. In early October, the company announced the creation of the Xbox XP division, which will focus on expanding game universes to other media platforms, including film and television.

Instead of concluding one large exclusive agreement, Xbox is now considering entering into several smaller deals with different partners. This will allow the company to collaborate with multiple studios and streaming platforms simultaneously.

Despite the breakdown of negotiations for exclusive rights, Microsoft and Netflix will continue to work together on adaptations of game franchises. Xbox stated that interest in the company's intellectual property has reached a record high, called Netflix a valuable partner, and expressed enthusiasm for the upcoming release of joint animated series based on Minecraft and Diablo, as well as other adaptations.