Activision investing $500million in Destiny

Activision Blizzard is pumping $500 million USD into the Destiny franchise to turn it into one of the biggest games in the world.

CEO Bobby Kotick revealed the number during the Milken conference in Los Angeles last week, and it far surpasses money spent on some of the biggest Hollywood films.

That $500 million is going towards game development, marketing, packaging, infrastructure support, royalties and other costs.

"If you're making a $500 million bet you can't take that chance with someone else's IP," said Kotick. "The stakes for us are getting bigger."

By comparison, analysts estimate Take-Two Interactive spent $260 million USD on the development and marketing of Grand Theft Auto 5.

Activision has a 10-year contract with Bungie for worldwide distribution rights and significant control over the potential franchise's development.

"Bungie's very ambitious plan is designed to unfold over a 10-year period," said an Activision spokesperson.

"The depth of creative content, scope and scale is unprecedented and is required to bring Bungie's vision to life."