With Minecraft and Diablo shows already on the way, Netflix reportedly offered Xbox $500m for a bigger film and TV deal

Netflix reportedly offered Xbox $500 million for exclusive access to adapt its games into films and television shows over seven years, but the deal fell through after Xbox sought $800 million. The reported disagreement highlights the high cost of game rights as studios compete to turn successful video game franchises into screen productions.

Puck News says former Netflix chief content officer Bela Bajaria initiated talks, while Netflix finance chief Spence Neumann was among those who viewed Xbox’s counter-offer as too expensive. The report does not specify which games the proposed deal would have covered. Netflix and Xbox are still developing animated Minecraft and Diablo shows and a live-action Gears of War film; Xbox says it is pursuing smaller licensing deals.