GTA 5 Players Are Spending More Than Ever On Microtransactions
Take-Two Interactive, the parent company of Rockstar Games and 2K Games, reported earnings for its fiscal third quarter ended December 31, 2017. It's good times for the company, as it posted gains for revenue, while GTA V's online mode continued to make a lot of money.
During the holiday season, GTA Online and NBA 2K18 set records for "recurrent consumer spending." This is Take-Two's terminology to describe revenue from microtransactions, subscriptions, DLC, and other forms of digital content.
Additionally, GTA V the base game continues to see "robust ongoing sales," which is remarkable given that the title originally launched back in 2013. GTA V has shipped more than 85 million copies by Take-Two's latest count, making it one of the most commercially successful games ever in the United States.
Take-Two's net revenue for the quarter was $480.8 million, up from $476.5 million during the same period last year. Revenue from recurrent consumer spending jumped by 64 percent year-over-year and made up 32 percent of Take-Two's total net revenue. Unsurprisingly, GTA Online was called out as one of the main contributors.
Take-Two's profit for the quarter was $25.1 million, which is down from $29.8 million during the same period last year. Similar to many other companies, Take-Two incurred an tax expense related to Trump's Tax Cuts and Jobs Act, which was enacted on December 22. Take-Two's expense for this was $11.9 million, so the company would have made a profit instead of a loss under normal circumstances.
More to come...
from GameSpot http://ift.tt/2C2OScD