EA to invest $80m in next-gen consoles

EA to invest $80m in next-gen consoles
Craig Chapple

By Craig Chapple

May 8th 2012 at 10:34AM

'We are strong believers that console will return to strong growth', says Riccitiello

EA is to invest $80 million in next-gen game development during the next year, it has revealed.

In the publisher’s latest financial report, the company said it would be putting the money toward “Gen4” systems, which would likely include the Wii U and the long rumoured PS4 and next Xbox.

EA did not specify however what systems it would be developing games for this year.

“We are strong believers that console will return to strong growth and represent a great opportunity, one that is in lockstep with our digital plan," said EA CEO John Riccitiello in a conference call.

Platform net revenue for PS3 and Xbox 360 grew 21 per cent and 35 per cent year-on-year, although money from Wii titles fell 72 per cent on last year.

EA also struggled on handheld platforms, down 63 per cent on PlayStation systems and 82 per cent on Nintendo consoles.