MUMBAI: Finding innovative ways to integrate interactive entertainment, media and programming, MTV Networks has entered into strategic relationship with Chicago based Midway Games to jointly sell in-game advertising and collaborate on soundtrack development for three upcoming games.
Under the deal, MTV is able to participate in a royalty sharing structure.
The first title under this deal --- the arcade racing video game L A Rush will feature MTV Branding 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.
Midway Games is a developer and publisher of interactive entertainment software for major video game systems.
