Around the Net
MySpace To Launch Game Sector
- The Wall Street Journal, Tuesday, October 23, 2007 10:45 AM
A day after announcing its first foray into Web video production, News Corp.'s MySpace is now planning to become an online gaming destination, too. The social network is striking a deal with game
distributor Oberon Media to feed its new MySpace Games section, set for a January launch.
MySpace, with 110 million-plus worldwide members, is already a major player in interactive music
and video. Casual gaming, the fastest-growing sector of the gaming industry with the largest audience, is a logical next step. The area will include hundreds of free, easy-to-play, time-waster,
puzzle, quest and card games. "This was a very clear area for us that answered a need for enhancing the fun factor on MySpace," said MySpace vice president of business development Amit Kapur.
However popular, casual games brought in just $380 million in revenue in the U.S. last year, according to research from Pacific Crest Securities and NPD Group Inc., compared with $4.78 billion in sales of console games. This is largely because casual games are free, relying on advertising to make money. The sector's growth rate is more than double that of the console gaming business, expected to reach $512 million this year.
