I'd say this comes about 20 years late (certainly since the legendary Chris Hülsbeck score to 1991's Turrican II), but tracks created specifically for video games are about to get major music industry recognition for the very first time. According to the Times, the prestigious Ivor Novello Awards will introduce a new category this year: 'the best original video game score'.
"The Ivors has always sought to reflect the ever-changing world of songwriting and composing," said Ivors committee member Mark Fishlock. "The video games market has matured beyond recognition and big budget orchestral scores are regularly being commissioned. Writing music for games also requires a number of specialist skills compared with conventional film scoring, such as non-linear and multi-layered composition."
I heartily agree with this last statement - scoring tracks that are both enjoyable and flexible enough to change in a split second to fit the action onscreen is a challenge up there with any aspect of traditional classic or modern music composition.
The Novello committee is now actively seeking entries for its best original video game score in time for the 2010 awards which are held in May. To be eligible the music must come from a game released any time in the last year and not been used prior to this.