The boss of Microsoft’s interactive entertainment division Don Mattrick, has revealed the full amount Xbox Live subscribers have spent on the service – a cool $1 billion.

Speaking at the platform holder’s E3 media briefing this morning, Mattrick added that a new member joins every five seconds, an that the Xbox Live audience had already downloaded 500 million “pieces of content’.

Mattrick also declared his belief that Xbox 360 would outsell PS3 overall this generation – and gloated over the number of previously PlayStation-exclusive IP that has made its way to the console.

“Today, a new member joins Xbox Live every five seconds – adding to over 12 million members,” he said.

“I’m thrilled to share with you that, since we launched 360, consumers have spent more than $1 billion on Xbox Live. And they’ve downloaded more than half a billion pieces of content. No only can you find the games – but we give you the entertainment you want, when you want it.”