MTV Networks Invests $500 million Into Games News
Gwynne Dixon
17/08/2007
Viacom's MTVN will be allotting the money to various projects over the next two years...
MTV Networks has announced an investment of $500 million specifically into games over the next two years. The media giant are responsible for a host of game-related media, most notable of which is the publisher MTV Games, which is currently working with Harmonix on the eagerly awaited Rock Band title.
One fifth of this $500 million investment will be directed specifically at the casual gamer market, as it will be funnelled into the Nickelodeon Kids and Family Group for casual games development.
MTV Networks chairman and CEO Judy McGrath, commented on the investment: "Gaming is a focal point of our vertical entertainment strategy to superserve our loyal and passionate audiences with engaging experiences, and the success of all our properties, everything from AddictingGames to the virtual games on Nicktropolis to the award-winning Rock Band, really has put us in a leadership position. As we continue to take our brands narrow and deep to serve our targeted audiences, we are investing over $500 million in the next few years towards building our games business, worldwide, across all of the brands."
MTVN has gone on a spending spree in their acquisition of games related media of late, most notably when MTV Games plucked the original Guitar Hero developers, Harmonix, from under the noses of Activision (who had bought the original publishers RedOctane). MTV Games and Harmonix are currently in the process of preparing the eagerly awaited title Rock Band for a Christmas release in the US.