Take-Two Interactive CEO Strauss Zelnick shared his confidence in the company's future growth, following a challenging period of layoffs in the games industry. Zelnick discussed the financial stability of Take-Two and mentioned that prior layoffs and cost-cutting measures had achieved their goals. With a focus on growth, Take-Two expects to see increased net bookings and cash flow in the coming years, with Grand Theft Auto 6 playing a significant part in this optimism.
Despite a 4% drop in net bookings year-over-year due to decreased recurrent spending, the company's title sales remain strong. Grand Theft Auto 5 sold an additional five million copies, and Red Dead Redemption 2's sales total over 57 million units. Projections for 2025 include the release of GTA 6, which anticipates over $8 billion in net bookings and high operating results in the subsequent fiscal year.
Take-Two has outlined plans for 52 game releases through fiscal 2026, with titles such as the long-awaited Judas from Ghost Story Games and a new Bioshock game among the included projects. While layoffs continue to impact the games industry even amongst successful companies, Zelnick suggests that with careful planning during the pandemic, Take-Two is well-positioned to avoid similar challenges going forward.
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