Have GTA 5 and RDR 2 Finally Stopped Selling? Nuh-uh
Thanks to Take-Two Interactive's financial report, we learned that GTA 5 and RDR 2 continue to sell like hotcakes.
Take-Two Interactive has published a new financial report. As a result, we learned the updated sales results of Grand Theft Auto V and Red Dead Redemption 2.
- Sales of GTA 5 exceeded 185 million copies.
- RDR2 has distributed 55 million copies.
- Comparing these numbers with the previous report, we know that an additional 5 million copies of GTA 5 were sold between April 1 and June 30, 2023, as well as 2 million copies of RDR2.
- It is also worth mentioning that sales of NBA 2K23 exceeded 13 million copies, of which 2 million were in the past quarter.
In the period between April 1 and June 30, 2023 Take-Two Interactive's net revenue amounted to $1.28 billion, which was 17% higher than in the corresponding quarter of 2022. Despite this, the company recorded a loss of $206 million, almost double the year-earlier figure.
Revenue growth decelerating
The company's revenue growth has now decelerated sharply.
- This is due to the fact that a year ago Take-Two Interactive bought out Zynga, and since then the amounts earned by that team's games were added to the publisher's results.
- Therefore, revenues with them added were much higher than those earned by Take-Two Interactive before the acquisition.
The report also included an interesting piece of information - the fastest growing source of revenue for the company is microtransactions / DLC / virtual currency sales. In the past quarter, players spent 38% more money on these things. However, Take-Two Interactive CEO Strauss Zelnick says the publisher needs to be cautious about this, because if players start to think they're spending too much compared to what they get in return, they may quickly abandon such games.
