Xbox Live breaks $1bn mark?

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Revenue for Xbox Live could well have reached $1bn in Microsoft's last financial year, Bloomberg is reporting.

Microsoft has told the financial news site that half of the services' 25 million users paid for a Gold membership last year - which equates to around $600 million in sales. Sales of downloadable movies, TV shows and other services have also topped subscription revenues for the first time, claims Xbox COO Dennis Durkin.

The old playbook of launch and leave is a relic of the past,” said Durkin.

Today with Xbox live, it's now about ‘launch, sustain, retain' by continually adding new content that enhances the original experience.”

Microsoft is due to report 2010 results July 22nd. Analysts expect the firm to post operating income of $1.04 billion.