Xbox CEO Asha Sharma believes Call of Duty has grown into a larger business than the Marvel Cinematic Universe, and she says Microsoft sees a growing opportunity to turn more of its game franchises into films, television shows, and other entertainment projects.
The comments come as Microsoft continues building adaptations around some of its biggest gaming properties. Fallout became one of Amazon’s most successful shows, the Minecraft movie performed strongly in 2025, and several more Xbox related projects are already in development.
Sharma’s message is clear: Xbox does not want to become a traditional film studio, but it does see games as valuable entertainment brands that can reach audiences beyond consoles and PCs.
Call of Duty has become one of gaming’s biggest entertainment brands
Call of Duty has been a major annual franchise for more than two decades, spanning modern warfare, historical conflicts, futuristic combat, battle royale modes, mobile games, and live service content.
The series has reportedly generated more than $35 billion through over 500 million game sales. That puts it ahead of the Marvel Cinematic Universe in total revenue terms, although the comparison depends on how each business is measured.
Marvel’s movie universe has earned roughly $32 billion at the global box office, but that figure does not include all merchandise, streaming, comics, licensing, and other related revenue. Call of Duty’s figure, meanwhile, reflects the strength of a long-running game series built around premium releases, in-game purchases, and ongoing player engagement.
| Entertainment franchise | Reported scale |
|---|---|
| Call of Duty | More than 500 million games sold |
| Call of Duty revenue | Over $35 billion |
| Marvel Cinematic Universe box office | Around $32 billion |
| Fallout television series | One of Amazon’s most watched shows |
| Minecraft movie | One of 2025’s biggest films |
The comparison may be debated, but it shows how Microsoft now views Call of Duty. It is no longer just a game franchise. It is a major entertainment property with the potential to support films, shows, merchandise, and other projects.
Microsoft is building more Xbox adaptations
Microsoft has had mixed results when adapting games outside the gaming industry.
The Fallout television series was widely praised and helped bring new attention to Bethesda’s RPG franchise. The Minecraft movie also proved that a game with a younger audience can succeed as a large cinema release.
However, Microsoft has also faced disappointment with past Halo projects. The live-action Halo television series received a divided response, while earlier attempts to expand the franchise through film and streaming did not create the long-term impact many fans expected.
That has not stopped Xbox from moving forward with more projects.
A Call of Duty movie is planned for 2028, while a live-action Sea of Thieves film is also in development. Netflix is working on a Gears of War adaptation, Amazon is developing a Wolfenstein show, and a Minecraft animated project is reportedly being prepared for Netflix.
Xbox wants games to lead the creative direction
Sharma said Microsoft does not plan to become the biggest provider of traditional television or films. Instead, the company appears to want partnerships where its gaming franchises remain at the center of the project.
That strategy could help avoid one of the biggest problems with game adaptations: projects that borrow a famous name but lose what made the original game appealing.
A strong adaptation needs more than familiar costumes, characters, and locations. Fallout worked because it captured the world’s tone, humour, moral choices, and strange post-apocalyptic identity. Minecraft succeeded by turning its creative and playful design into a broad family film.
Future Xbox adaptations will need to find similar ways to respect their game roots while still working for viewers who have never played them.
More Xbox movies and shows are likely on the way
Microsoft’s recent approach suggests that Fallout, Minecraft, Call of Duty, Gears of War, Halo, Sea of Thieves, and Wolfenstein may only be the beginning.
The company now owns a huge collection of gaming franchises through Xbox Game Studios, Bethesda, and Activision Blizzard. That gives it access to decades of characters, worlds, and stories that could work in different formats.
Not every franchise needs a film or television series, and Microsoft will need to avoid oversaturating the market. But with Call of Duty, Fallout, and Minecraft already demonstrating major commercial value, Xbox clearly sees multimedia projects as an important part of its future.
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