GTA:V and Red Dead Redemption developer to bring out new game

By Ajay Kadkol - 23 May '16 07:40AM
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"Rockstar Games is of course hard at work on some exciting future projects that will be revealed soon," Take-Two said.The publisher did not provide any further details on these games. However, Take-Two president Karl Slatoff mentioned during an earnings call that the company is working on new IP to further diversity its portfolio, though it is not known if one of Rockstar's new games is a new IP.

CFO Lanie Goldstein also mentioned that Take-Two is expecting a 75/25 revenue split between 2K Games and Rockstar Games for the current fiscal year (April 1, 2016-March 31, 2017). This would suggest Rockstar's next game may not come out during this fiscal year.

Additionally, CEO Strauss Zelnick said on the call that Take-Two has announced its complete slate for the current fiscal year, and no Rockstar titles are on it.Recently, Zelnick teased that the company had big plans for E3 2016. In April this year, what was believed to be the map for Red Dead Redemption 2 leaked, suggesting the game was possibly a prequel to the 2010 original.

In terms of business performance, Take-Two had a tough fourth quarter and full year ended March 31. For the fourth quarter, revenue was $342.5 million, compared to $427.7 million during the same period last year. Take-Two mentioned that last year's fiscal fourth quarter benefited from the launch of Evolve and ongoing sales of the company's "more extensive holiday 2014 release slate," thus making for a tough comparison.

Profit for the quarter was $51.7 million, down from $54.3 million during the same period last year.Key drivers of revenue for Take-Two's fourth quarter included Grand Theft Auto V, GTA Online, NBA 2K16, XCOM 2, and WWE 2K16. Revenue from digital sources jumped 12 percent to $226.6 million, with the GTA, NBA 2K, and WWE 2K franchises, as well as XCOM 2, helping drive the growth.

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