brijesh
15-08-05, 11:39 PM
Viacom Inc.’s MTV division has now entered into strategic relationship with Chicago based Midway Games to jointly sell in-game advertising and collaborate on soundtrack development for three upcoming games.
Midway Games has pacted with MTV to market new games, sell in-game advertising and collaborate on soundtracks. Unique deal will let MTV share in royalties from game sales, a first for a TV network.
The first title under this deal — the arcade racing video game L A Rush will feature MTV B*****ng throughout the game world with the crew from the hit MTV show, Pimp My Ride, as part of innovative marketing alliance, informs a media release.
The other two games under this deal will be announced at a later date.
Viacom Inc chairman and CEO Summer M. Redstone, who owns a majority of the voting shares of both MTV and Midway, said, “I am delighted that Midway is the first to enter into this exciting new business model, which harnesses the power of MTV’s brands, intellectual property and promotional engine to Midway’s top-rated games development and publishing abilities.”
He also adds “And I am also delighted to report that the independent special committee of Viacom’s board, which oversees relationships between Viacom and Midway recommended board approval, and that this recommendation was accepted by the full Viacom board.”
“By combining forces with MTV, we ensure that great titles like LA Rush, which are targeted to passionate gamers, get the maximum amount of exposure,” said Midway president and CEO David Zucker.
Zucker also add that MTV is a key partner in terms of overall marketing reach; their programming truly defines pop culture worldwide.
“Gaming is an essential part of the every day lives of our audience and MTV is where game publishers turn to launch their biggest titles. This unique alliance with Midway allows us to move beyond a traditional advertising relationship and become true partners in the success of these titles. We will integrate our expertise in music, television, and online media to help one of the video game industry’s top publishers deliver exciting, new, culturally resonant games,” states MTV Networks Music and Logo Enterprise Group executive vice president Jeff Yapp.
The advertising partnership was approved by an independent committee of Viacom’s board created in August to evaluate transactions between the two companies because of Redstone’s 81 percent stake in Midway. MTV may share in royalties from the three games, the companies said.
The first title to be released under the new marketing deal, “L.A. Rush,” debuts in October. Other games will be released in 2006 and 2007, a Midway spokesman said.
Viacom CEO Sumner Redstone owns a majority of voting shares in both MTV and Chicago-based Midway.
Shares of Midway Games slipped 5 cents to $10.42 in midday trading. Viacom shares were off 45 cents, or 1.4 percent, at $32.19. Both stocks trade on the New York Stock Exchange.
Finally, finding innovative ways to integrate interactive entertainment, media and programming, will add some more fun as both music television cable network and Midway will also collaborate on soundtrack development for the three games.
But the game lover’s have to wait till as first title to be released under the new marketing deal, “L.A. Rush,” debuts in October.
Midway Games has pacted with MTV to market new games, sell in-game advertising and collaborate on soundtracks. Unique deal will let MTV share in royalties from game sales, a first for a TV network.
The first title under this deal — the arcade racing video game L A Rush will feature MTV B*****ng throughout the game world with the crew from the hit MTV show, Pimp My Ride, as part of innovative marketing alliance, informs a media release.
The other two games under this deal will be announced at a later date.
Viacom Inc chairman and CEO Summer M. Redstone, who owns a majority of the voting shares of both MTV and Midway, said, “I am delighted that Midway is the first to enter into this exciting new business model, which harnesses the power of MTV’s brands, intellectual property and promotional engine to Midway’s top-rated games development and publishing abilities.”
He also adds “And I am also delighted to report that the independent special committee of Viacom’s board, which oversees relationships between Viacom and Midway recommended board approval, and that this recommendation was accepted by the full Viacom board.”
“By combining forces with MTV, we ensure that great titles like LA Rush, which are targeted to passionate gamers, get the maximum amount of exposure,” said Midway president and CEO David Zucker.
Zucker also add that MTV is a key partner in terms of overall marketing reach; their programming truly defines pop culture worldwide.
“Gaming is an essential part of the every day lives of our audience and MTV is where game publishers turn to launch their biggest titles. This unique alliance with Midway allows us to move beyond a traditional advertising relationship and become true partners in the success of these titles. We will integrate our expertise in music, television, and online media to help one of the video game industry’s top publishers deliver exciting, new, culturally resonant games,” states MTV Networks Music and Logo Enterprise Group executive vice president Jeff Yapp.
The advertising partnership was approved by an independent committee of Viacom’s board created in August to evaluate transactions between the two companies because of Redstone’s 81 percent stake in Midway. MTV may share in royalties from the three games, the companies said.
The first title to be released under the new marketing deal, “L.A. Rush,” debuts in October. Other games will be released in 2006 and 2007, a Midway spokesman said.
Viacom CEO Sumner Redstone owns a majority of voting shares in both MTV and Chicago-based Midway.
Shares of Midway Games slipped 5 cents to $10.42 in midday trading. Viacom shares were off 45 cents, or 1.4 percent, at $32.19. Both stocks trade on the New York Stock Exchange.
Finally, finding innovative ways to integrate interactive entertainment, media and programming, will add some more fun as both music television cable network and Midway will also collaborate on soundtrack development for the three games.
But the game lover’s have to wait till as first title to be released under the new marketing deal, “L.A. Rush,” debuts in October.