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Nickelodeon spends $100 million on games

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Children's TV channel Nickelodeon has announced it will spend $100 million dollars over the next two years developing new online games.

The investment will pay for a plethora of multiplayer games, virtual worlds and new subscription services as the firm seeks to tap into a fast-growing part of the $30 billion dollar industry.

Nickelodeon is keen to create so-called casual games, such as puzzles or card games that can be played for just a few minutes, as developers claim this is one of the fastest-growing segments of the business.

New products already confirmed from the channel including myNOGGIN, a subscription service of educational games for preschoolers and parents.

It will also launch the Nick Gaming Club, a subscription service featuring multiplayer games and 3D avatars that members can use to interact with one another.

"Particularly in the kids' space, with more than 86% of kids 8 to 14 gaming online, we see great momentum for online casual gaming," Cyma Zarghami, Nickelodeon Kids and Family Group President, said in a statement.

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