Take-Two Interactive Reports Earnings - GTA V Sold Over 150 Million Copies Since Launch

Take-Two Interactive Software, the giant gaming company behind the hit Grand Theft Auto franchise, reported earnings today for the quarter ended June 30 (April-June). Revenues came in at $813M with net income (profit) coming in at $152.3M. While these headline numbers are impressive, what surprised me was that a whopping 70% of these revenues came from "recurrent consumer spending". This metric measures ongoing consumer engagement and includes virtual currency, add on content, and in-game purchases, the bulk of which come from Grand Theft Auto Online. A standalone version of Grand Theft Auto Online is set to launch on November 11th. GTA remains the company's most successful franchise with over 350 million copies sold since launch.

The Red Dead Redemption franchise has sold 60M units worldwide since launch with Red Dead Redemption 2 selling over 38M units. The online version of Red Dead Redemption 2, while active, hasn't come close to the success of Grand Theft Auto Online.

Like many other Western developers, Take-Two hasn't had much success in mobile gaming with the company's 4 most popular mobile games being relatively unknow (even Top Eleven doesn't make the top 100 highest grossing mobile games list in the U.S. It currently sits around the #400 spot).

Take-Two is expanding aggressively though with 62 total games in the company's development pipeline (though Grand Theft Auto VI is by far the most important title in the works). The company has hired over 1,500 developer sin the last 2 years alone and currently employs over 5046 development studio staff.

As expected, consoles remain the #1 platform for Take-Two with 75% of revenue derived from there. Mobile currently only makes up 8% of the company's revenues, but this will likely increase in the future.

Further Reading: Take-Two August 2021 Investor Presentation, Quarterly Earnings Presentation