Take-Two CEO Strauss Zelnick likes the company’s chances next generation. Speaking during a fourth quarter earnings call today, Zelnick said that transitions to a new hardware cycle can create challenges for some publishers and opportunities for others, and he believes Take-Two will fall into the latter category.
Zelnick said that those with strong technology, strong owned intellectual property and top talent thrive in a new console cycle, and he believes that describes Take-Two but not many of its competitors. “We expect to be at the front of the line,” he said.
This comes in the wake of disappointing losses for Take-Two, who saw net revenue of $148.1 million this quarter, roughly $34 million below 2011’s $182.3 million. For the year, Take-Two’s net loss was $108.8 million. Comparatively, the company saw a profit of $48 million in 2011.
“While our financial results were disappointing, the decisions we made position Take-Two for growth and profitability both this year and over the long-term,” Zelnick commented.
It wasn’t all bad news, though, as L.A. Noire and NBA 2K12 boosted earnings for the year. Both titles have shipped more than five million units to date, with LA Noire holding the honor of best-selling new IP in 2011. In the wake of BioShock Infinite’s recent delay to 2013, Zelnick also revealed that the BioShock franchise has shipped 9.5 million units to date. Meanwhile, Max Payne 3 has shipped three million units since its release last week.
“Fiscal 2013 kicked off with the successful launch of Max Payne 3, which received outstanding reviews and promises to be another hit for Rockstar Games,” Zelnick said. “We have a fantastic lineup of upcoming releases for the balance of the year and the strongest development pipeline in the company’s history.”
The company predicts a big year in 2013, with its current release calendar and some "titles yet to be announced” pushing expected revenue to $1.75 billion. While Zelnick wouldn’t reveal whether that prediction specifically included Grand Theft Auto V, he did add that the title is “in full development.”
Other news from Take Two’s earnings results includes a possible delay to 2014 for 2K Marin’s XCOM first-person shooter and the potential end of the MLB 2K series. The company also confirmed a few release dates for the upcoming fiscal year, as included below:
- Max Payne 3 (PC) – June 1, 2012
- Sid Meier's Civilization V: Gods and Kings – June 19, 2012
- Spec Ops: The Line – June 26, 2012
- Borderlands 2 – September 18, 2012
- NBA 2K13 – October 2, 2012
- XCOM: Enemy Unknown – October 9, 2012
- BioShock Infinite – February 26, 2013
A release window for Grand Theft Auto V has still not been announced, though many analysts continue to predict that the game will be released in 2013.
Source : http://www.ign.com
