Microsoft is on track to reach its sales target of $300 million for Halo 4. If successful, this will be the most successful launch of Halo in the history of the franchise and the biggest entertainment launch of the year to date, claims Microsoft.

Within 24 hours after Halo 4 was released, the title was able to rack up an astounding $220 million in sales globally. The $220 million passes both Halo 3 and Halo Reach. With the $220 million on launch day, this brings the franchise to an incredible total of $3.38 billion in sales since the launch of the first Halo title.

If that isn’t impressive enough, Halo 4 also smashed the record for the largest number of players in the franchise history in the first five days, with over 4 million players. These players played a lot of Halo 4, combining for 31.4 million hours of game play.

According to reports, Microsoft claims that Halo 4 was the most expensive game ever produced, and reviews have proven that the money was well spent. The company is excited by the strong showing of Halo 4, and sources tell us that they are expecting a banner holiday season for the Xbox 360 and associated software titles.