Xbox Responds To Report Claiming Netflix Offered $500 Million For TV & Film Adaptations
By “We have experienced unprecedented enthusiasm for our I.P.”
Image: Netflix on the Xbox 360 – how we long for it!
It’s already known that Xbox is quite keen on broadening its footprint in the television and film arena in the upcoming years. As per a recent report, Netflix has shown interest in investing an astonishing $500 million for exclusivity in this domain.
According to the team at Puck, who cite three sources, the proposal was made to “exclusively license Xbox properties from Microsoft for film and television adaptations: $500 million for a duration of seven years”.
Subsequently, it has been reported that Xbox CEO Asha Sharma attempted to negotiate the offer up to $800 million.
“$500 million over seven years. Xbox’s Asha Sharma and her business team countered with $800 million…”
Following this, Netflix’s content chief Bela Bajaria was dismissed in mid-October, and sources indicate that the proposal was withdrawn. Currently, Xbox is said to be “seeking smaller agreements with additional partners”.
Xbox did respond to this report with a statement, while Netflix opted to remain silent.
Xbox: “We have encountered unprecedented enthusiasm for our I.P.; Netflix is a valued collaborator and we are eager for the upcoming debut of our Minecraft and Diablo animated series together, alongside other adaptations.”
Clearly, all of this is just reported information, so it should be taken with some skepticism. If accurate, it indicates that Xbox is drawing serious offers when it comes to transforming their IP into television and film adaptations.
You can certainly understand why Asha Sharma is so enthusiastic about it now! Xbox holds a wealth of potentially lucrative films and television franchises, and we will have to see what kinds of agreements emerge in the forthcoming years.
What are your thoughts on this? Share your views in the comments section below.
[source puck.news]
Fraser serves as the News Editor at Pure Xbox,
