Netflix reportedly offered Xbox $500 million for film and TV rights

Netflix reportedly tried to secure a much bigger share of Xbox's catalogue for the screen, offering $500 million for the right to adapt Xbox games into films and TV shows. According to the report, the two sides could not agree on a price. If you follow game adaptations, it suggests more Xbox franchises are attracting interest from streamers, even if this particular deal is said to be off.

What the report says

The claim comes from a report by Puck, as covered by Pure Xbox. Puck, citing three sources, says the offer was to "exclusively license Xbox titles from Microsoft for film and TV adaptations: $500 million for seven years."

GameSpot attributes the reporting to entertainment journalist Matthew Belloni, who wrote it up in Puck News. GameSpot says Microsoft's price tag was reportedly quite a bit higher than what Netflix was willing to pay.

Eurogamer puts a number on the gap. It says the deal has supposedly fallen through over one minor quibble: Netflix wanted to adapt the console maker's games for $500 million, not $800 million. That suggests Microsoft was looking for roughly $800 million, though the report as summarized doesn't spell that out. All of this comes from a single report built on anonymous sources, so the figures remain unconfirmed.

Netflix and Xbox already work together

This would not have been the first project between the two companies. GameSpot notes that Netflix already has a deal in place with Microsoft to develop a Gears of War movie, and says the streamer is looking to grab more Xbox IP to build new franchises. Eurogamer adds that Minecraft and Diablo shows are already on the way.

The reported talks were about going well beyond those projects. As described, the offer would have covered Xbox titles broadly rather than a single game, with Netflix getting exclusive adaptation rights for seven years.

Xbox responds

Pure Xbox says Xbox responded to the report with a statement that includes the line "We have received record-breaking interest in our I.P". Pure Xbox also points out that Xbox has already made clear it has plenty of interest in expanding into TV and film in the years ahead.

What it means for players

Nothing changes right now for anyone who plays on Xbox. The Gears of War movie, the Minecraft show and the Diablo show are the projects the outlets name as already in motion. Whether Netflix comes back with a higher bid, or Microsoft takes its games to other partners, hasn't been reported.

Until either company says more, treat the $500 million and $800 million figures as unconfirmed.