Disney plans to massively expand its game budget

Disney has announced plans to increase its game development spending to $350 million per year in the next five years, according to Reuters. Last year, Disney spent $100 million on game development and has spent $130 million this year.

Disney Interactive Studios has already released a number of games on all modern platforms this year, including Pirates of the Caribbean: At World’s End and Meet the Robinsons. It have also released a few original games: Spectrobes, a Pokemon-esque RPG, and Meteos: Disney Magic, both for the Nintendo DS. Last year, it co-published Kingdom Hearts II with Square-Enix.

Basically, Disney has seen how profitable the video game market is and wants a bigger piece of the action. Traditionally, Disney has farmed out its stories and characters to other developers as licenses. Disney Interactive Studios, formerly known as Buena Vista Games, has been taking more and more Disney-related projects in-house. It is even planning to produce an MMO based on the Pirates of the Caribbean brand.

Disney is continuing to make licensing deals with other companies, though, including a partnership with Electronic Arts to create ESPN sports games (ESPN is owned by Disney).

Read [Yahoo] Via [Gamespot]