Take-Two Interactive Software, Inc. (NASDAQ:TTWO) CEO Strauss Zelnick told Bloomberg Television in an interview that the company is dedicated to its permanent game franchises.
Zelnick talked to Jon Erlichman at the sidelines of the Electronic Entertainment Expo (E3) where he explained their strategy in terms of releasing games. He also talked about their showing at the E3, virtual reality and the future of gaming.
At the start of the discussion, Zelnick said that their main priority with E3 is to engage with retailers, consumers and the media. The CEO told Erlichman that he believes his company has been able to do just that. He added that for example, the release of Grand Theft Auto V has had people engaged very well. Zelnick said that the game will be available for the latest-generation consoles this coming October.
Meanwhile, the Take-Two Interactive Software, Inc. (NASDAQ:TTWO) CEO also talked about his company’s timing of releases. Erlichman noted that the company is not releasing games on a fixed schedule but rather releasing games as they are finished by the studios the company owns in order to get the best product possible.
Take-Two Interactive Software, Inc. (NASDAQ:TTWO) CEO owns Rockstar Games and 2K Games, Inc. Rockstar Games is popular for the games Grand Theft Auto, L.A. Noire, Max Payne and Midnight Club among others. 2K Games, Inc. develops the games Bioshock, Borderlands, Civilization, and the 2K sports franchises like NBA2K, among others.
According to the Take-Two Interactive Software, Inc. (NASDAQ:TTWO) CEO, they do have annual game releases like for NBA and WWE, games, he noted, that are very successful for the company. He also pointed out that Take-Two Interactive has a very robust and recurrent consumer spending business that is not tied to a specific game release. As for other franchises, the CEO said that they do not have annualized release dates because they want to build permanent franchises. He explained:
“With regard to our big tent-pole titles, our big fiction titles, they tend to come not on an annual schedule because we want to build permanent franchises, build anticipation for those franchises, and then deliver the best titles in the business.”
Watch the video below where the CEO also talked about virtual reality and the future of gaming, particularly streaming gamers playing for entertainment.
Investors in Take-Two Interactive Software, Inc. (NASDAQ:TTWO) includes David Einhorn’s Greenlight Capital which had 4.8 million shares, valued at about $105.26 million, in the company by the end of the first quarter. Ken Griffin’s Citadel Investment Group also reported about 3.9 million shares in Take-Two Interactive Software by the end of March.