Xbox Live Revenues Hits $1 Billion

For the first time since its original launch in 2002, Xbox Live has generated over $1 billion dollars according to a recent report by Bloomberg News.

This report outlines Microsoft currently sees around half of its 25 million Xbox Live members pay a $49.99 annual subscription fee to receive the Gold member status. This by itself totals around $600 million in revenue. Additional sales of avatar items, movies, and other downloadable content pushed revenue to an estimated $1.2 billion for Microsoft's fiscal year ended June 30.

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