Microsoft has $1 billion for exclusive Xbox One titles

Microsoft is ready to invest around $1 billion in the development of exclusive games for the Xbox One.

That's according to a report from Official Xbox Magazine, in which Don Mattrick and Phil Spencer discuss Microsoft's strategy for first-party development. The entertainment focus of the Xbox One reveal event led to widespread accusations that the company had neglected the gamers on which its business is built. However, Mattrick believes that the breadth of the Xbox One offering has been under-estimated.

"We just ran through our [release slate] and counted the number of exclusives, and looked at the amount of money that we're spending and the deals that we have, exclusive windows and [things to create differentiation]," he said.

"I think, candidly, people are way, way under-indexing how hard we're punching."

Even before the event, Microsoft pressed the idea that its E3 presentation would be focused on games, but it did reveal that it has 15 exclusive games ready for the Xbox One's first year, including 8 new IPs.

"There are great hits, there's innovation, and there are world class creators plugged in," Mattrick continued. "You know, I keep track of it all, and I hope everyone here does - we kind of look back at all the different years and at what we shipped, how many units have sold. There's a lot of hyperbole about things, but I think we're going to deliver."

The doubt surrounding Microsoft's core game strategy is just one of many pressing issues to be addressed at E3. So far, the company's messaging around controversial topics like the Xbox One's online requirements and its approach to used games has been confusing, with senior executives occasionally contradicting one another when speaking to the press.

Microsoft's E3 press conference will be take place on June 10, 2013.