MTV investing over $500 million in video games!
MTV Networks plans to invest well over $500 million in video games, recognizing the booming $30 billion global games market as a major pillar of growth in its goal to reach consumers wherever they spend time.
The two-year investment is part of a global strategy to incorporate games development at the inception of all new programming plans and not as an afterthought, executives say. “Games are critical,” MTV Networks President of Global Digital Media Mika Salmi said. Salmi joined MTV after parent company Viacom bought Atom Entertainment last year for $200 million. He oversaw Atom’s Shockwave.com, a pioneer of online games.
To quote: “As we take our brands narrow and deep to serve our targeted, niche audiences, we’re putting well over $500 million behind building our games business across all of the brands in our portfolio. I’d like to see more game applications on some of our current big brands across the music group,” MTV chairman and chief executive Judy McGrath said, referring to developing games based on the networks’ range of shows.
The Hollywoodreporter mentions MTV Networks, whose two decades of unchallenged hegemony over youth entertainment has shown cracks in recent years, now sees its games portfolio as a key way to keep kids and adult customers transfixed to screens — whether on television sets or cell phones and laptops.
Its new investment is emboldened by early success with its existing properties such as Xfire, which helps connect players, GameTrailers, AddictingGames.com, Neopets.com and virtual world Nicktropolis. All their game-related websites in June alone were visited by 42 million unique visitors globally.
MTVN is studying ways to link their upcoming game Rock Band to its traditional cable networks and Web properties. But they are fearful of alienating players by cramming TV and other content into the game. Salmi said: “It’s hard to tell where it’s going to go. It’s in the consumers’ hands to take it to the next level.”
17 August 2007 05:20joe
i guess we will see rock band 2 :p
17 August 2007 13:32Jen Larkin
It’s interesting that among the “existing properties” there is no mention of Virtual MTV/Virtual Laguna Beach/Virtual Pimp My Ride. Those are online games based on MTV shows, which is specifically what this article says will be the focus of the investment. If the article is about a specific thing that they will invest in, doesn’t it make sense to list the identical things that they currently invest in?
