What you need to know
Netflix reportedly withdrew from a proposed seven-year content deal after Xbox raised its price from $500 million to $800 million. Microsoft’s multimedia plans continue through separate Netflix projects and other potential partnerships.
Voice: DefaultSpeed
0:00 / 2:13
Use left and right arrow keys to seek audio.
Xbox reportedly missed out on a deal with Netflix to adapt TV shows and movies for the streamer
2
Microsoft wants to reset Xbox, and multimedia is a big part of that plan. The company owns a treasure trove of en owns over 20x separate billion-dollar properties. Microsoft created Xbox XP to facilitate this expansion, a multimedia division specifically for Xbox
Some of these plans have hit roadblocks.xclusive content based on Xbox games. Netflix reportedly offered Xbox $500 million for the deal, which would have given Netflix 7 years of content exclusivity, but gaming CEO Asha Sharma raised it to $800 million. Netflix is said to have passed on the deal
- Read more: ‘Game Pass is too expensive for players, we need a better equation,’ Xbox CEO Asha Sharma says
- Read more: Netflix co-CEO Greg Peters says Xbox is still figuring out how to make Game Pass work for Microsoft
Netflix is (and has been) working with Xbox on multiple separate projects like a Gears of War live-action film, a Minecraft animated series, and a Diablo TV show. It’s unclear whether or not these shows would have been part of the deal.
Xbox CEO Asha Sharma has been circling popular streamers like Netflix from the get-go. Back in March, we reported that Xbox was exploring co-subscription options between Netflix and Game Pass, perhaps finding some sort of synergy between the two.
At the time, Netflix couldn’t find common ground with Xbox Game Pass. Co-CEO Greg Peters told The Information:
“I think Microsoft’s still trying to figure out how to make the Game Pass bundle work for Microsoft. But what I like about Asha’s thinking is, it’s all about, how do we do more? And it’s already been exciting to watch.”
What is the latest on Netflix’s live-action Gears of War film?
What Game Pass co-subscription options did Xbox and Netflix explore?
How does Xbox XP support Microsoft’s plans to expand game franchises into film and television?
Which Xbox franchises have been announced for Netflix adaptations?
Want something else? Ask TweakBot.
The negotiations for these kinds of deals likely aren’t over–not as long as Xbox holds mega-popular series and franchises.
