Sony Computer Entertainment America and Sony Computer Entertainment Europe have announced the introduction of dynamic in-game advertising on PS3.

Marketers interested in placing advertisements in games for PS3 or publishers with available in-game space for advertisements are able to engage through advertisement distribution partners, with IGA Worldwide selected as PS3’s first partner.

This partnership will serve to bolster the already rapidly growing worldwide in-game advertising industry, which is expected to grow 1,150 percent to $971.3 million between 2006 and 2011, according to the Yankee Group.

“The PS3 platform is primed to leverage the high growth potential of the in-game advertising market,” said Phil Rosenberg, Senior Vice President, SCEA. “Ads that are organic to the environment not only benefit developers and advertisers, but also create a richer experience for gamers.”

“PLAYSTATION 3 is undoubtedly the prime opportunity for the in-game advertising industry,” said Justin Townsend, CEO, IGA Worldwide. “Through this partnership with Sony Computer Entertainment, IGA can provide advertisers with a large and valuable global user base of 16-35 year old consumers with disposable income. With our standardized awareness-building advertising formats being delivered directly into people’s living rooms while they play, there are great opportunities for advertisers looking to engage through an entertainment medium outside of the traditional TV spot.”

Let’s hope with more money coming in, we’ll see some better quality games.

Electronic Arts has also confirmed a two year agreement with IGA who will now be the company’s exclusive global, dynamic in-game advertising partner for titles on PS3.

We’re promised that any advertising that appears in PS3 games will not be intrusive, but will only serve to make the experience more realistic.

Ker-ching! Looks like even more champagne at the end-of-year shareholder's banquet then.