Grand Theft Auto' Game Publisher Plans New Title
October 18 2016 - 06:50PM
Dow Jones News
Take-Two Interactive Software Inc. confirmed it would release a
"Red Dead" videogame next fall after investors drove up the
company's shares 5% Monday on earlier hints that the announcement
was imminent.
Without a new installment of Take-Two's biggest franchise,
"Grand Theft Auto," on the horizon, gamers reacted positively to
Twitter posts from the company's Rockstar Games studio teasing the
return of the series. One tweet posted Sunday featuring artwork
from the franchise garnered 61,000 retweets within an hour.
"It's a positive indicator that there's this much excitement
about a game coming out next year," said Macquarie Securities
analyst Ben Schachter. That Take-Two announced the game now, as
rivals are preparing many big-budget releases for the holidays,
signals that the company is confident it will be a hit, he
said.
"Red Dead" is a western action-adventure series that made its
debut in 2004. In total, the franchise's three installments to date
have sold more than 20 million units world-wide, according to
Take-Two.
Macquarie estimates the new title, for the latest consoles from
Sony Corp. and Microsoft Corp, will sell about 12 million copies in
its first three months. In addition, Take-Two plans also to release
an online multiplayer version, which may be free but might generate
significant revenue over time via sales of virtual goods, Mr.
Schachter said.
"There are learning a lot of lessons from 'Grand Theft Auto,'"
Mr. Schachter added.
The fifth installment of the gritty crime drama series was
released in 2013 in tandem with the online version. Take-Take
credits the latter as its largest contributor of recurring customer
spending, as fans snap up a steady flow of newly released digital
accessories such as souped-up yachts and high-powered weapons.
Write to Sarah E. Needleman at sarah.needleman@wsj.com
(END) Dow Jones Newswires
October 18, 2016 18:35 ET (22:35 GMT)
Copyright (c) 2016 Dow Jones & Company, Inc.
TakeTwo Interactive Soft... (NASDAQ:TTWO)
Historical Stock Chart
From Feb 2024 to Mar 2024
TakeTwo Interactive Soft... (NASDAQ:TTWO)
Historical Stock Chart
From Mar 2023 to Mar 2024