MTV Networks to invest big on games!

MTV Networks to invest big on games!

MTV Networks has said in a release that they plan to spend as much as $500 million in video games.

The company believes that they need to make this investment to get a pie of this ever growing market segment.

These funds would be invested in the next two years as they aim to incorporate games development into their programming.

MTV Chairman and Chief Executive Judy McGrath said in a statement: “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.”

UBS Internet analyst Ben Schachter had this to say on MTV’s plans: “The history has not been good. It’s changing. The Internet is a different ball game, especially for casual games.”