Games Giant Signs 5-Year Facebook Deal

Facebook logo over binary code and computer sharing information
CBS / iStock Photo
Video game publisher Electronic Arts Inc. said Tuesday it signed a five-year deal to make Facebook's virtual currency, Facebook Credits, the sole way to pay for virtual items in its games on the social media website.

EA said "Pet Society" and "Restaurant City" are two of the top 10 games on Facebook measured by daily active users. The games come from Playfish, which EA bought last year for $275 million. EA's soccer and football games also are playable on the site and it recently launched Monopoly for Facebook.

Facebook takes a 30 percent cut of all Facebook Credits revenue. About 200 million people play games every month on the site.

"Since gaming has emerged as the most popular category of applications on Facebook, the natural next step is for EA to broaden its relationship with Facebook and its 500 million users," said Barry Cottle, senior vice president and general manager for EA Interactive.

Shares of EA rose 29 cents to $16.09 in afternoon trading.