Barry Diller's Gaming Budget: $50M-$100M (IACI)

Like everyone else, Barry Diller’s IAC is eager to cash in on the fast-growing gaming market. How will they? On the Web, Variety reports.

Last fall, IAC (IACI) bought a big stake in game developer GarageGames, which it’s using to launch a new site called InstantAction (currently in beta). Variety:

IAC will spend $50 million-$100 million on InstantAction, which will offer games that aren’t quite as big as, say, “Halo 3,” but are significantly deeper than the typical casual game on the Internet.

Some are being made in-house by GarageGames, but IAC is also working with independent developers and hoping to bring onboard outside publishers.

“The market is well served with tons of casual games, but nobody is grabbing real or lapsed gamers who may be too busy to sit in front of a TV and play video games for hours at a time,” notes InstantAction head Andy Yang.

How will they make money in a crowded market? InstantAction will try a bunch of sales models, including pay-to-play, ads, subscriptions, and letting players trade virtual property.

Previously: IAC Invests in Game Developer, Plans Game Site

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