GTA V Ships Over 90 Million Units, Powers Publisher Take-Two To Another Solid Quarter
Rockstar Games parent company Take-Two Interactive has just released their earnings report for the quarter ending December 31, and, unsurprisingly, the company continues to ride high on the seemingly-unstoppable success of Grand Theft Auto V.
According to Take-Two, GTA V has now shipped an astonishing 90 million units, with 15 million units being sold in 2017 alone. Not bad for a four-year-old game. During the holidays GTA Online also set new records for “recurrent consumer spending,” which is Take-Two’s sly name for microtransactions and DLC. Overall, Take-Two is reporting revenue of $480.8 million and a net income of $25.1 million for Q3, which is a nice improvement over last year, when they lost approximately $29 million during the same quarter. Digital sales accounted for $258.4 million, or around 54 percent, of their revenue. Here’s what Take-Two management had to say about their healthy Q3 results:
“During the holiday season, we benefited from high consumer demand for our offerings, enabling our Company to deliver another quarter of both strong [sales.] Our stellar results were highlighted by record recurrent consumer spending on both Grand Theft Auto Online and NBA 2K18, robust ongoing sales of GTA V, and the successful launch of WWE 2K18.”
During an earnings call, Take-Two CEO Strauss Zelnick confirmed “recurrent spending” will continue to be a major focus going forward, but also stressed they’re “focused on players, not payers.” In other words, the quality of the content, not monetization schemes, come first. Perhaps that’s why Take-Two and Rockstar haven’t found themselves in the same kind of hot water EA and Warner Bros. Interactive have.
Obviously, Take-Two’s outlook for fiscal year 2019 (which runs from April 1, 2018 to March 31, 2019) is very positive, given the upcoming release of Red Dead Redemption 2. Take-Two is “confident” the game will hit its release date and are expecting $1.8 to $1.85 billion of revenue and $123 to $133 million in net profits next year. Zelnick was all-too-happy to praise the hitmakers at Rockstar…
“Rockstar Games never ever rests on the past and is utterly focused on innovation and breaking barriers, with an eye towards an amazing entertainment experience. It’s easy for me to say those words, but exceedingly hard to do. And I would argue impossible for others to replicate [what Rockstar Games does].”
Red Dead Redemption 2 rides onto Xbox One and PS4 on October 26.