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GTA V Is Still a Global Gaming Sensation So GTA 6 Makes No Sense Right Now

autoevolution by 19 photos In the most earnings reports, Take-Two has confirmed that Grand Theft Auto remained one of the “ largest contributors to GAAP net revenue,” alongside newer titles like NBA 2K21, Borderlands 3, and Red Dead Redemption 2. But more importantly, sales of GTA V continued to remain solid during the quarter, eventually pushing the game to a new personal record: 150 million sold copies since its official launch in 2013. “ For nearly eight years, Grand Theft Auto V and Grand Theft Auto Online have redefined the creative and cultural influence of interactive entertainment – setting new standards for multiple generations of consumers and gaming platforms. Sales of Grand Theft Auto V were significantly above our expectations once again, and the title has now sold-in more than 150 million units,” Strauss Zelnick, Chairman & CEO, said.

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Gamasutra - In-game spending on Take-Two games jumped 15 percent during Q1 2022

); } Take-Two’s quarterly earnings report today landed with good news for the company. Along with the announcement that GAAP net revenue did decrease slightly year-over-year dropping two percent from $831.3 million to $813.3 million. But buried in that drop is an interesting data point: Take-Two has seen a 15 percent year-over-year increase in in-game spending (dubbed “recurrent consumer spending” in its report), as more players spend money on virtual currency, add-on content, and other in-game purchases. That’s a steady boost in activity for a company that’s seen rising revenue built on the back of digital spending. (It closed out its 2021 fiscal year with 87 percent of $3.4 billion net revenue flowing in just from digital sources.) In this quarter, that in-game spending accounted for 70 percent of total GAAP net revenue.

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Take-Two Interactive (TTWO) Q1 2022 Earnings Call Transcript

Operator Greetings, and welcome to the Take-Two Q1 Fiscal-Year 2022 Earnings Call. [Operator instructions] As a reminder, this conference is being recorded. I would now like to turn the conference over to your host, Nicole Shevins, senior vice president of investor relations and corporate communications. Please go ahead. Nicole Shevins Senior Vice President of Investor Relations and Corporate Communications Good afternoon. Thank you for joining our conference call to discuss our results for the first quarter of fiscal-year 2022 ended June 30, 2021. Today s call will be led by Strauss Zelnick, Take-Two s chairman and chief executive officer; Karl Slatoff, our president; and Lainie Goldstein, our chief financial officer. We will be available to answer your questions during the Q&A session following our prepared remarks.

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GTA V leaving Xbox Game Pass on August 8

GTA V leaving Xbox Game Pass on August 8
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Take Two Reports Lower Sales, CEO Comments on Industry Abuse

Take Two Reports Lower Sales, CEO Comments on Industry Abuse
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