After a mass layoff in two major game companies, it was heavily impacted in the last several months. Now the CEO of Take-Two, Strauss Zelnick, says, “I feel confident that the publishers is on the other side of what’s been a highly fraught year fot the industry.”
Talking alongside IGN about the quarterly financials, Zelnick said, “it’s cost-cutting measures undertaken earlier this year exceeded the publisher’s targets, and we feel good about how we’re structured now.”
It has been seen that soem of the cost-cutting included layoffs at the Private Division label along with other company divisions in March. To this, Zelnick said, “Take-Two has weathered the worst of a post-pandemic slump and is prepared for a surge of growth in the coming years. We’ve already gotten through the right-sizing we felt we needed to do, and we expect to be in growth mode going forward.”
Zelnick’s optimism is mainly because of the company’s great numbers. “Take-Two saw total net bookings of $1.44 billion in the last quarter, down 4% year-over-year thanks to a slight dip in recurrent spending, but well within expectations.”
“Grand Theft Auto 5 sold another five million copies in the quarter, bringing it to a total of 190 million units sold over its lifetime. Red Dead Redemption 2 has sold over 57 million total units, and NBA 2K24 got off to a solid start with 4.5 million units sold – not quite matching NBA 2K23’s five million in the same period, but not far off.”
Take-Two said, “We expect to enter this new era by launching several groundbreaking titles that we believe will set new standards in our industry and enable us to achieve over $8 billion in Net Bookings and over $1 billion in Adjusted Unrestricted Operating Cash Flow. We expect to sustain this momentum by delivering even higher levels of operating results in Fiscal 2026 and beyond.”
Sofia
