Microsoft reportedly sought USD 800 million from Netflix in exchange for seven years of exclusive rights to produce shows and films based on Xbox games. The deal has fallen through since the two companies could not agree on a price, according to reports on October 23.
Puck first reported the story, and Video Games Chronicle cited it. Netflix first offered USD 500 million. Xbox asked for USD 800 million. That left a USD 300 million gap between them. Neither company has officially announced a deal or shared the full details of the talks.
The talks ended with no deal. Netflix reportedly pulled its offer after changes in its leadership. The agreement would have let Netflix make exclusive shows and films based on Xbox games.
Netflix declined to comment. Xbox did speak to Puck. It said it had received record interest in its games and called Netflix a valued partner. It also pointed to the Minecraft and Diablo animated series planned for the streaming platform.
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Xbox is now said to be looking at smaller deals with many companies. Instead of one big deal, it would sign several small ones. One game could go to one service, and another could go to a different one. This would also let Microsoft keep more control over its own games.
Microsoft has tried TV before. Its live-action Halo series began in 2022. Season two arrived in February 2024. The show was cancelled in July 2024. Netflix has done well with game adaptations too. Cyberpunk: Edgerunners is one example.
The failed negotiations do not necessarily affect the companies' existing projects, which are being handled separately. The Minecraft and Diablo animated series are still on the way, and Xbox has said it wants to pursue more adaptations.
For now, Microsoft appears to favor partnerships with multiple platforms over a single seven-year exclusive agreement. Neither side has said what comes next. Fans may see more shows and films from Xbox games in the future, just not all from one place.