Microsoft’s Halo 3 has become the fastest-selling computer game yet, generating global sales of $300 million (£147 million) in its first week.

The record figures make the title one of the bestselling entertainment properties of all time and confirm how video games now rival the money-spinning prowess of Hollywood blockbusters and publishing phenomena such as Harry Potter.

Halo 3, released for Microsoft’s Xbox console on September 25, generated sales of more than $170 million in its first 24 hours and is estimated to have cost between $20 million and $30 million to develop and another $10 million to market.

By contrast, Sony’s Spider-Man 3, which cost about £250 million to produce and market, grossed $151 million on its opening weekend.

Halo 3’s strong start will also give a welcome boost to Microsoft’s Xbox 360 console, which is trailing the market leader, Nintendo’s Wii, by a large margin.

Microsoft said indications from retailers suggested that Xbox daily sales have doubled since Halo 3 was released.

Piers Harding-Rolls, of Screen Digest, the research firm, suggested that Halo 3 has the potential to remain to be “a system seller” for Microsoft in the run-up to Christmas.

He said: “Halo 3 is the jewel in the Xbox crown.”

Bill Gates, the Microsoft co-founder and chairman, said: "Halo is truly a cultural phenomenon, and the launch of Halo 3 is an important milestone for Xbox 360 and for video games as entertainment and as an art form.”

Halo 3 follows the continued adventures of a space marine called Master Chief, as he fights an alien army called the Covenant.

The long-awaited title won rave reviews across the board last month.

"Sites around the web agree," Crunchgear.com said. "Halo 3 is indeed better than when your wife got pregnant."

Gamepro.com added: “No other game has had as much hype, built-up fan anticipation nor the marketing push — try $10 million in marketing campaigns alone — as the last chapter of the premiere franchise in console gaming.”

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