Take-Two Makes Money Without New Grand Theft Auto
Cowboys, Mafiosi, and empire-building credited for publisher's "milestone" profits.
Take-Two Interactive was able to achieve one of its goals this year, by reporting a profit in a year that didn't include the release of a new Grand Theft Auto game.
Take-Two ended its financial year on October 31st, and generated $1.15 billion in revenue - an increase of 65% - of which $42.5 million was profit. The previous year, Take Two endured a loss of $140 million. The strong performances of games like Civilization 5, Mafia 2 and, of course, Red Dead Redemption were credited as the source of Take-Two's financial success. Take-Two also noted that digital sales had been a "meaningful component" of its sales over the last twelve months.
CEO Ben Feder - who leaves the role in January - said that the revenue growth andmargin expansion for the year had been better than expected, and CEO-Designate Strauss Zelnick said that Take-Two was now in a much better position, both financially and creatively, and would continue to build an increasingly diverse catalogue of games to facilitate further growth.
It will be interesting to see where Take-Two goes from here, having hit one of its major milestones, and someone new at the helm. With hard-boiled thriller LA Noire and the singular Duke Nukem Forever already lined up for next year, I wouldn't be surprised if Take-Two is able to give a repeat performance in 2011.
They'll pull off strong DLC sales next year, too.
Likely from a Civ 5 expansion.
And possibly another Red Dead expansion, too.
Red Dead will probably see a PC release next year as well, so don't discount those fifteen sales, yet. :p
That said, Mafia 2 was pretty close to what we're starting to expect from GTA games, so I'm not sure this was a year without a GTA game. :p
glad to see a publishing house not beating a dead horse like say some other big name publishers <.<
Take Two had an incredibly strong line-up of games this year, and I'm glad it paid off... too many Developers and companies going bust from trying something different these days, so its good to see Take Two have a good year without having to rely on GTA :)
so Take-Two is doing the publishing of the new Duke Nukem game?? I didn't know that
But can we get an injunction against them releasing Duke Nukem Forever please? I'm not ready for the universe to end.
It's good to see a publisher who offers something different, not that I have anything against other publishers
But there was a GTA this year. GTA IV: Episodes launched on both the PS3 and PC for the first time last May.
In many ways, RDR was "a new GTA".
Ever since they named a Grand theft auto after me with gay before, I don't like them.
Seriously though, Red dead is basically GTA with horses, good for them regardless.
Good to hear a company doing alright for itself.
But meanwhile... "$1.15 billion in revenue - an increase of 65% - of which $42.5 million was profit."
Ouch. 42.5 million profit from revenue of 1150 million?
3.7% profit margin. Mmm. Well, I guess that's workable. But it really is on the low end
Not are their games even superb, even their DLC is always more content then the price they ask. I am loving it and RDR is certainly a wonderful/stunning game if you ask me.
I have faith in them creating a perfect L.A. Noire atmosphere/setting, their new IP's are amazinb.
No don't tell them! Now they won't see a need to make another GTA!
Red Dead Redemption = Grand Theft Auto
Good for you, Take Two! let's see you repeat that when NOT releasing a game in which a seriously flawed protagonist achieves a long goal over a long and interesting campaign taking place in an open world, portions of which are closed off and are unlocked throughout the campaign, by shooting people via orders of various support characters with quirky personality traits, and/or stealing people's mode of transportation all while listening to kick ass music. Woo, Grand Theft Horse!
Well, this is good, since it shows something as risky as a game about cowboy's even when no game has sold well in that genre, it should make them more willing to take another risk.