PS3 Is Take-Two's Biggest Quarterly Revenue Generator
Take-Two Interactive fended off EA's advances and ended up with a pretty decent year, and although losses were up in the fourth quarter, the end result is far better than last year's. And perhaps surprisingly, Take-Two can attribute the majority of their recent quarterly haul to the PlayStation 3.
According to Kotaku, thanks to the 2008 sales of Grand Theft Auto IV, Midnight Club: Los Angeles, NBA 2K9, and Carnival Games, sales are definitely way up. If you haven't heard of the last name on that list, Take-Two says they have shipped over 3 million games in that series...so it shouldn't be too hard to locate. As for platforms as revenue generators for the previous quarter, the PS3 turned out to be the winner, with 35% on the publishing side. This tops the Xbox 360 in publishing dollars (28%) and the Wii (11%). We're seeing the PS3 versions of games performing much better in 2008 simply because we no longer have to suffer through the onslaught of piss-poor 360-to-PS3 ports. Developers have a firmer grasp of the PS3 architecture, and most all of them are creating their multiplatform games simultaneously on both consoles. No more of this port crap. Take-Two has certainly profited from treating the PS3 well; both the PS3 versions of GTAIV and Midnight Club were mostly identical to the 360 versions.
As for the entire fiscal year, Take-Two raked in over $1.5 billion in revenue, with about $97.1 million in net revenue. Obviously, this is a good deal better than the company's 2007 result, which came in at $981.8 million, causing a net loss of over $138 million. Okay, everyone say, "thank you, GTA!"
12/18/2008 Ben Dutka