El Segundo, California - May 27, 2008– Today the formation of Music Video Games™ (MvG) was announced, a music-based game company focused on delivering interactive entertainment experiences for both casual gamers and music fans. MvG was founded by David Warhol, president of video game studio Realtime Associates, Inc., and Vincent Bitetti, a video game publishing executive and former CEO of TDK Mediactive, which was sold to Take Two Interactive (NASDAQ:TTWO) in 2004.
“MvG has been created with the goal of bringing fun and easily accessible music games to an audience that has largely remained unnoticed to this point,” said Vincent Bitetti, CEO of MvG.“The music video game market and the online casual games market both continue to grow exponentially. MvG will provide games that will appeal to both demographics.”
Mr. Bitetti will act as the company’s CEO while Mr. Warhol will be the Chief Creative Officer. Acting as strategic advisors to the new company are music industry veteran Mark Goldstein, former Senior Vice President of Business and Legal Affairs at Warner Bros Records Inc. (NYSE:WMG), and interactive entertainment guru Tim Walsh, formerly the Senior Vice President of International Publishing, President of THQ Wireless, and a Corporate Officer at THQ (NASDAQ:THQI).
According to Pacific Crest Securities the online casual games business will grow to $725 million in 2008 from $375 million in 2006, with casual games becoming a primary industry growth driver for 2008 and beyond.
To find out more about MvG, please visit www.musicvideogames.net
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About Music Video Games, LLC
Music Video Games, LLC was created in early 2008 by video game veterans David Warhol and Vincent Bitetti to develop, publish and exploit technology and proprietary music beat matching game designs developed by Realtime Associates, Inc., and powered by major music artists of the past, present and future. Visit www.musicvideogames.net for more information.
About Realtime Associates, Inc.
Realtime Associates, Inc. is one of the longest-established independent video and computer game studios in operation today, and is the owner of the intellectual property and underlying technology for Music Video Games, LLC. Founded in 1988 by David Warhol, Realtime Associates has released over 85 consumer products on major videogame consoles, hand-held platforms as well as the PC. Realtime specializes in the development of ESRB EC, E, E10+, and T rated entertainment software titles, and has developed original titles as well as titles based on popular cartoon and children’s’ licenses. Past clients include Sega of Amer ica, Electronic Arts, Midway, Acclaim, Mattel, and THQ, among others. For more information, visit www.rtassoc.com