From Barron’s:

The videogame industry’s opportunity, to hear Activision Blizzard Chief Executive Bobby Kotick tell it, is nothing less than a chance to vanquish the film and television industries, a process that is unfolding now and could be realized in five years: “I view the medium as having the potential to eclipse film and television,” he asserted in a telephone interview from his office in the heart of the world’s entertainment capital. (Activision Blizzard is the only videogame company that is so situated.)

His industry will get its chance, says Kotick, when the next generation of hardware makes it possible to master the difficult art of facial animation, bringing characters to life and providing an emotional connection that allows for better storytelling and character development — what film and TV deliver today. The notion is not as far out as it might seem, as anyone with teenagers can attest. Already, videogames have begun providing an interactive and physical experience, with systems such as Nintendo’s Wii and games like Guitar Hero, that go well beyond anything on film and TV in terms of audience interaction and participation.

Video games have already made their impact on pop culture, with game-based movies Prince of Persia, Bioshock and Halo making regular headlines on Variety and The Hollywood Reporter as they get developed.

Considering the strides made in creating all-in-one entertainment platforms with Xbox 360 and PS3, we tend to agree that there’s a lot of unrealized potential there. It’s just a matter of having the right games and hardware at the right price points, and with the right marketing to expand the audience.

The Nintendo Wii shows it s not enough to just engage the hardcore, but to try and open up a mainstream consumer in ways that are still unrealized by Microsoft and Sony. The strides of the latter two companies are admirable with Blu-Ray and digital distribution, but until there s a low cost console that focuses on, say, the Netflix/Facebook/Twitter integration on Xbox 360, Kotick’s words will go unproven.