Take-Two also undoes Marvel’s Midnight Suns release and posts losses

Zynga was incorporated into the group exactly 39 days before the accounts closed for the quarter, and it’s already working on transforming Take-Two Interactive’s properties. If this person sees their turnover rise sharply to exceed €1 billion, that is largely due to mobile whose share of receipts is 34% versus 10% before the Zynga acquisition. Consoles remain in the majority and account for 55% of the group’s total sales.

But the costs associated with acquiring a big fish like Zynga are reflected very differently in profits, which turn into losses for the first time in a very long time at Take-Two Interactive. Therefore, the Strauss-Zelnik Group begins the financial year with a net loss of 102 million euros and expects an annual loss of close to 400 million euros for the fiscal year ending March 31, 2023.

We’re pleased with Zynga’s contribution this quarter, which complemented our results in a significant wayThe CEO commented during his presentation, acknowledging that the results are not as good as expected due to the reduced number of major releases and the normalization of participation two years into the pandemic.

Meanwhile, the acquisition of Zynga has turned Take-Two Interactive into a publisher whose income comes from in-game purchases, and therefore intangible. “Recurring consumer spending (including virtual currency, additional content, in-game purchases, and in-game advertising) increased 44% and represented 75% of total revenue. Digitally generated revenue increased 40% to $1 billion from $740.8 million in the first quarter of last fiscal year, representing 94% of total net revenue‘Can we read?

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In this context, the major contributors to this quarter are NBA 2K22, Grand Theft Auto Online, Grand Theft Auto V, Red Dead Redemption 2, and Red Dead Online, Empires and puzzlesLittle Tina’s Wonderland, WWE 2K22, Rollic Ultra Catalog, Ton Blastand The Quarry and Top Eleven, a list that really highlights the importance of mobile.

Continuing its mini marathon, Grand Theft Auto V approaches 170 million copies sold worldwide, making 380 million copies for the franchise. Red Dead Redemption 2 hits the impressive figure of 45 million and 68 million for the franchise. Also word for Borderlands 3 which crosses 15 million copies, pushing the Gearbox franchise to 75 million. Now the franchise at the top of its genre, NBA 2K22 has surpassed 12 million copies distributed worldwide, outperforming its predecessor. The NBA 2K franchise now features over 125 million games. Also a special mention is the PGA Tour 2K21 that has reached the 3 million mark and whose successor will face EA Sports’ return to the golf course in early 2023.

After Rollerdrome which will be available on August 16, the next big title is none other than NBA 2K23 (September 9). On the other hand, Marvel’s Midnight Suns tactical RPG has been postponed again and thus no longer expected on October 7. On PS5, Xbox Series, and PC, the next Firaxis games are held for the fiscal year and so could be released as early as 2023, not far from Kerbal Space 2. On PS4, Xbox One, and Switch, the game’s release is more unclear. PGA Tour 2K23 and WWE 2K23 don’t have a date yet, as does the upcoming Gearbox of Borderlands Tales, but they are also expected to be no later than March 2023.

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With Zynga now part of the family, Take-Two Interactive has naturally reframed its goals for the entire fiscal year and forecasts turnover between €5.6 billion and €5.7 billion. Overtaking EA and Activision may not be enough just yet, but Take-Two Interactive may have the ability to compete for the title of America’s largest publisher soon. According to internal estimates, Zynga and other T2 Mobile games will make up 45% of annual revenue, ahead of 2K Games (37%), Rockstar Games (17%) and the special division (1%). On the other hand, as we said above, the acquisition of Zynga will have a severe impact on the accounts: an annual net loss of at least 400 million euros is expected.

Also to know →

  • Zynga’s integration enabled Take-Two to significantly accelerate its growth: The group had 6,042 employees as of June 30, 2022, compared to 5,079 the previous year.
  • Without disclosing any data, management says it is satisfied with the player’s participation in WWE 2K22, which has successfully revived the franchise after a year of necessary rethinking.

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About the Author: Octávio Florencio

"Evangelista zumbi. Pensador. Criador ávido. Fanático pela internet premiado. Fanático incurável pela web."

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