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Take-Two Interactive Software, Inc. (TTWO) is a prominent developer, publisher, and marketer of interactive entertainment products for a global audience. The company operates through several well-known labels, including Rockstar Games, 2K, Private Division, and Zynga, offering products for console gaming systems, PC, and mobile platforms. These products are distributed via physical retail, digital download, online platforms, and cloud streaming services . A significant portion of their revenue is derived from popular franchises, with Grand Theft Auto being a major contributor . Recurrent consumer spending, including virtual currency and in-game purchases, forms a substantial part of their business model .
- Grand Theft Auto Franchise - Develops and markets the Grand Theft Auto series, a major revenue driver known for its open-world action-adventure games.
- Recurrent Consumer Spending - Generates revenue through virtual currency, add-on content, in-game purchases, and in-game advertising, contributing significantly to the company's financial performance.
- Rockstar Games - Produces and publishes high-quality games, including the Grand Theft Auto series, known for their immersive storytelling and expansive worlds.
- 2K - Offers a diverse range of games, including sports titles like NBA 2K, catering to various gaming audiences.
- Zynga - Focuses on mobile gaming, delivering popular social games and interactive experiences on mobile platforms.
- Private Division - Publishes independent games, supporting and promoting innovative titles from smaller development teams.
- International Sales - Engages in global distribution, with a significant portion of revenue generated from markets outside the U.S.
- With the increasing costs and complexities of game development, how do you plan to balance investing in new IP versus focusing on existing successful franchises to ensure sustainable growth in a maturing industry?
- Considering the competitive nature of the sports gaming market and your current portfolio, what specific strategies are you implementing to expand your presence in major sports genres beyond basketball, and how do you plan to overcome barriers in acquiring licenses for other big sports?
- Given the delays in releasing the seven core titles you mentioned earlier this fiscal year, with line of sight on only four, have any titles been pushed back, and how will this impact your financial guidance and pipeline expectations?
- With record net bookings anticipated for fiscal '26 and '27, can you provide more clarity on how you plan to sustain growth beyond the major releases like Mafia, Borderlands, and GTA VI, especially considering the challenges in maintaining momentum in subsequent years?
- As the mobile gaming landscape evolves, particularly in terms of advertising and user acquisition costs, how are you adapting your strategies to maintain growth in your mobile division, and do you see the need to rely more on third-party platforms like Chartboost, or can your internal resources suffice?
Competitors mentioned in the company's latest 10K filing.
- Activision Blizzard, Inc. - Competes in interactive entertainment and mobile games .
- Electronic Arts Inc. - Competes in interactive entertainment and mobile games .
- Embracer Group AB - Competes in interactive entertainment and mobile games .
- Playrix - Competes in interactive entertainment and mobile games .
- Playtika - Competes in interactive entertainment and mobile games .
- Roblox - Competes in interactive entertainment and mobile games .
- Scopely - Competes in interactive entertainment and mobile games .
- Tencent - Competes in interactive entertainment and mobile games .
- Ubisoft Entertainment S.A. - Competes in interactive entertainment and mobile games .
- Sony - Competes for licenses and sale of interactive entertainment software, large developer and marketer for its own platforms .
- Microsoft - Competes for licenses and sale of interactive entertainment software, large developer and marketer for its own platforms .
- Nintendo - Competes for licenses and sale of interactive entertainment software .
- Apple - Competes with new and expanded mobile gaming offerings .
- Google - Competes with new and expanded mobile gaming offerings .
Customer | Relationship | Segment | Details |
---|---|---|---|
Sony | Platform licensing and distribution | All | Contributed >10% of net revenue during FY 2024; part of the five largest customers collectively accounting for 79.8% of net revenue in FY 2024And 69.9% of gross A/R. |
Apple | Mobile distribution | All | Contributed >10% of net revenue during FY 2024; part of the five largest customers collectively accounting for 79.8% of net revenue in FY 2024And 69.9% of gross A/R. |
Google | Mobile distribution | All | Contributed >10% of net revenue during FY 2024; part of the five largest customers collectively accounting for 79.8% of net revenue in FY 2024And 69.9% of gross A/R. |
Microsoft | Platform licensing and distribution | All | Contributed >10% of net revenue during FY 2024; part of the five largest customers collectively accounting for 79.8% of net revenue in FY 2024And 69.9% of gross A/R. |