In a live event streamed across the web, Microsoft has revealed its latest game console, the Xbox One (or as wives call it, the babysitter). In what Microsoft is marketing as the “next generation of entertainment in the living room”, the Redmond, WA based company hopes to make the entertainment experience less complex while tying together games, TV and entertainment.

New features will include a new Kinect with Skype connectivity, a new controller, a tablet-based SmartGlass experience, a new Xbox Live service and live TV. Microsoft will also be developing TV shows and original programming including a new Halo TV series.

This is Microsoft’s first attempt in seven years to update the Xbox.  How much it will cost and how well it will compete against Sony’s Playstation 4 and Nintendo’s Wii U remains to be seen.  In the meantime, check out Forbes list of the five must have games for both Playstation 4 and Xbox One.