would allow video games to convey unprecedented emotions. Sony estimated the PS2 could render 7.5 million to 16 million polygons per second, whereas independent estimates ranged from 3 million to 20 million, compared to Sega's estimates of more than 3 million to 6 million for the Dreamcast. The PS2 would also use the DVD-ROM format, which could hold substantially more data than the Dreamcast's GD-ROM, and would be backwards-compatible with hundreds of popular PlayStation games. Sony's specifications appeared to render the Dreamcast obsolete months before its US launch, although reports later emerged that the PS2 was not as powerful as expected and difficult to develop on. The same year, Nintendo announced that its next console, the GameCube, would meet or exceed anything on the market, and Microsoft began development of its own console, the Xbox. US Dreamcast sales—which exceeded 1.5 million by the end of 1999—began to decline as early as January 2000. Poor Japanese sales contributed to Sega's ¥42.88 billion ($404 million) consolidated net loss in the fiscal year ending March 2000, which followed a loss of ¥42.881 billion the previous year and marked Sega's third consecutive annual loss. Although Sega's overall sales for the term increased 27.4%, and Dreamcast sales in North America and Europe greatly exceeded expectations, this coincided with a decrease in profitability due to the investments required to launch the Dreamcast in Western markets and poor software sales in Japan. At the same time, increasingly poor market conditions reduced the profitability of Sega's Japanese arcade business, prompting Sega to close 246 locations. Moore became the president and chief operating officer of Sega of America on May 8, 2000. He and Sega's developers focused on the US market to prepare for the upcoming launch of the PS2. To that end, Sega of America launched its own internet service provider, Sega.com, led by CEO Brad Huang. On September 7, 2000, Sega.com launched SegaNet, the Dreamcast's internet gaming service, at a subscription price of $21.95 per month. Although Sega had previously released only one Dreamcast game in the US that featured online multiplayer, ChuChu Rocket!, the launch of SegaNet combined with the release of NFL 2K1, with a robust online component, was intended to increase demand for the Dreamcast in the US market. The service later supported games including Bomberman Online, Quake III Arena, and Unreal Tournament. The September 7 launch coincided with a new advertising campaign to