If Take-Two is recording losses and planning a new savings plan, the group nevertheless still boasts solid enthusiasm for Grand Theft Auto V and Red Dead Redemption 2, while awaiting the release of GTA 6.
The group Take Two has just presented the accounts for its third fiscal quarter (corresponding to the last three months of 2023), marked by a turnover established at 1.37 billion dollars (down 3% over one year), for net sales of 1.34 billion (-3% over one year) and net losses of 91.6 million dollars (the group reduced them significantly compared to the 153 million losses recorded during the same period last year).
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Sales still strong for GTA and Red Dead Redemption 2
Take-Two's presentations are, however, above all an opportunity for the group to puff out its chest with the sales figures for its main licenses. If NBA 2K24 turns out to be a little less effective than its predecessor NBA 2K23the basketball game has nevertheless already sold seven million copies (compared to eight for the 2023 edition during the same period).
The most impressive figures nevertheless remain those of the titles of Rockstara subsidiary of Take-Two: Grand Theft Auto 5 has totaled 195 million units sold and despite being more than ten years old, the game claims “the highest increase in the number of new accounts” on Grand Theft Auto Online thanks to its Chop Shop update, deployed for the holidays. Same observation for Red Dead Redemption 2 which now displays more than 61 million copies sold. We also remember that in 2022, Take-Two bought Zynga in order to expand its catalog of mobile games and there too, the studio achieved “better than expected” performances.
The challenges of the release of GTA 6
Alongside the presentation of the group's accounts, we also remember the little sentence from Strauss Zelnick, the boss of Take-Two, asked about the release date of Grand Theft Auto 6. We know that RockStar is considering a launch in 2025.
According to Strauss Zelnick, Rockstar is a studio “that strives for perfection” and as such, the release of the game will be considered “when we believe that the game will be impeccable on a creative level”. The economic stakes are nevertheless considerable and he specifies: the launch date of a game is always the result of a delicate balance between “the search for perfection and the need to put it on the market” to make the investment profitable. . He believes that Rockstar “leans more towards perfection.”
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Beyond the declarations of intent, the question is important because Strauss Zelnick also mentioned the need for a new “cost reduction plan”, after the one already announced last year. The boss does not detail the details, but emphasizes that the upcoming plan will be “more robust” than the previous one. Layoffs are therefore to be expected at Take-Two (“because it is time to become truly efficient”), but not only that. Strauss Zelnick emphasizes that “the group’s biggest expense item is actually marketing.” He concludes: “Marketing optimization would therefore be a great way to ensure that the business becomes more efficient.” Especially since we imagine that GTA 6 shouldn't need a huge promotion to sell like hot cakes.