Online video sales help push Xbox 360 to over $1B in revenue

Microsoft says sales of movies and television shows downloaded across its Xbox 360 gaming platform topped Xbox Live subscription revenue for the first time ever, helping to send Xbox sales over $1 billion--also a first--for the year ended June 30.

BusinessWeek reported that a Goldman Sachs Group analysts estimates Xbox Live had sales of $1.1 billion in the past fiscal year, up from $800 million a year earlier. Subscriptions for the premium service are $50 a year.

Xbox, and other gaming platforms, has undergone a transformation of late, looking to extend its appeal beyond the traditional role it played with gamers. Last month it began carrying Hulu Plus as a subscription service, and added ESPN3.com content. It's been streaming Netflix video since 2008.

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