Microsoft has $1 billion to invest in exclusive Xbox One titles

Microsoft will invest roughly $1 billion for the development of exclusive titles for its newly revealed Xbox One console, Official Xbox Magazine reports in an interview with the game company's Don Mattrick and Phil Spencer.

Responding to accusations that Microsoft turned its back on its core audience with the reveal of the new general entertainment console, Mattrick stated the company is planning a number of gamer-centric exclusives and deals.

"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."

Microsoft previously stated it has 15 Xbox One exclusives on the cards for the first year of the console, including eight new IP.

"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."

Microsoft's E3 press conference takes place on June 10.