US publishing giant Take-Two has reported an increase of 53 per cent for its net revenue for the year ending March 31st, 2023.
Per the company’s financials for the year, it reports $5.35 billion in net revenue for the year, while net bookings clocked up at $5.28 billion, a 55 per cent increase. This has been driven by a string of hots, such as NBA, Grand Theft Auto and Red Dead Redemption. GTA5 has now shipped over 180 million copies, with Red Dead Redemption 2 sales reaching 53 million.
“We finished fiscal 2023 with momentum. Our fourth quarter Net Bookings were $1.4 billion, above the high end of our guidance range, driven by Grand Theft Auto V and Grand Theft Auto Online, Red Dead Redemption 2, and Zynga’s mobile portfolio,” Take-Two chair and CEO Strauss Zelnick (pictured) said.
“We also issued guidance for fiscal 2024, which includes net bookings in the range of $5.45 to $5.55 billion. Our forecast reflects the challenging consumer backdrop, as well as an extension of the development timelines for several high-profile, long-awaited titles in our pipeline. We believe that we will enter our next phase of growth in Fiscal 2025, as we plan to deliver several groundbreaking titles that we anticipate will set new standards of quality and success and enable us to deliver over $8 billion in Net Bookings and over $1 billion in Adjusted Unrestricted Operating Cash Flow. We expect to sustain this momentum with additional growth in operating performance in Fiscal 2026.”
“After numerous years of investment and creative development, we are excited about this next chapter for Take-Two. As we execute on our strategy and release what we expect will be an array of hit titles, we believe that we will grow our scale and margins, generating industry-leading returns for our shareholders.”
In fiscal 2025 – the year ending March 31st, 2025 – the company reckons it will be bringing in $8 billion in revenue, leading to speculation that Grand Theft Auto 6 could be coming out that year. Speaking to, Zelnick was pretty coy on the subject.
“We’re not talking about specific titles,” he said. “We believe it’s highly achievable. As you know, it’s exceedingly rare that we talk about out years. And when we do, it’s because we have a high degree of confidence. It’s a reflection of a pipeline we’ve been investing in for years. We’re beginning to see that come to fruition in fiscal 24, and then in fiscal 25, we expect to see some great successes.”