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.
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| Name | Position | External Roles | Short Bio | |
|---|---|---|---|---|
Karl Slatoff ExecutiveBoard | President | Partner at ZMC | President since 2013. Previously COO (2010-2013) and EVP (2008-2010). Extensive experience in operations and strategy. | View Report → |
Strauss Zelnick ExecutiveBoard | Chairman and CEO | Founder & Partner at Zelnick Media Capital (ZMC); Board Member at Starwood Property Trust, Inc.; Member of the Entertainment Software Association Board | CEO since 2011, Chairman since 2007. Extensive experience in media and entertainment. Former Chairman of ESA (2014-2017). | View Report → |
Daniel Emerson Executive | EVP and Chief Legal Officer | None | Chief Legal Officer since 2014. Oversees legal and regulatory matters. Compensation includes $850,000 base salary and bonus eligibility. | |
Lainie Goldstein Executive | Chief Financial Officer (CFO) | Director and Audit Committee Member at Phreesia, Inc. | CFO since 2007. Oversees finance, investor relations, and corporate communications. CPA with prior experience at Nautica Enterprises and Grant Thornton LLP. | |
Ellen Siminoff Board | Director | Board Member at BigCommerce and Verifone; Board of Overseers at Hoover Institution; Advisory roles at Stanford and Princeton | Joined TTWO board in 2022 after Zynga acquisition. Former CEO of Shmoop University and Efficient Frontier. Founding executive at Yahoo!. | |
J Moses Board | Director | Advisor to SimulMedia, GRID, Atlas Earth, and OnlyHands; Principal at Optin Studios | Independent director since 2007. Extensive media experience, including roles as CEO of UGO Networks and President of MTV Russia. | |
LaVerne Srinivasan Board | Lead Independent Director | VP of National Program and Program Director for Education at Carnegie Corporation of New York; Advisory roles at multiple education-focused organizations | Board member since 2017. Extensive experience in education, technology, and entertainment. Former Deputy Chancellor for NYC Department of Education. | |
Michael Sheresky Board | Director | Partner at United Talent Agency | Independent director since 2007. Extensive experience in entertainment and talent representation. Former Senior VP at William Morris Agency. | |
William "Bing" Gordon Board | Director | Partner at Kleiner Perkins; Board Member at Duolingo, Truecaller, and several private companies; Special Advisor to Amazon (until 2023) | Joined TTWO board in 2022 after Zynga acquisition. Co-founder of EA and former Chief Creative Officer. Recognized with Lifetime Achievement Award by AIAS. |
- 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?
Research analysts who have asked questions during TAKE TWO INTERACTIVE SOFTWARE earnings calls.
Andrew Marok
Raymond James Financial
4 questions for TTWO
Eric Handler
Roth Capital Partners, LLC
4 questions for TTWO
Christopher Schoell
UBS
3 questions for TTWO
Douglas Creutz
TD Cowen
3 questions for TTWO
Michael Hickey
The Benchmark Company, LLC
3 questions for TTWO
Clayton Griffin
MoffettNathanson
2 questions for TTWO
Colin Sebastian
Baird
2 questions for TTWO
Cory Carpenter
JPMorgan Chase & Co.
2 questions for TTWO
Eric Sheridan
Goldman Sachs
2 questions for TTWO
James Heaney
Jefferies
2 questions for TTWO
Martin Yang
Oppenheimer & Co. Inc.
2 questions for TTWO
Matthew Cost
Morgan Stanley
2 questions for TTWO
Arthur Chu
Bank of America
1 question for TTWO
Benjamin Soff
Deutsche Bank
1 question for TTWO
Brian Pitz
BMO Capital Markets
1 question for TTWO
Chris Scholl
UBS
1 question for TTWO
Clay Griffin
MoffettNathanson LLC
1 question for TTWO
Doug Creutz
TD Cowen
1 question for TTWO
Ed Alter
Jefferies
1 question for TTWO
Jason Bazinet
Citigroup
1 question for TTWO
Mike Hickey
The Benchmark Company LLC
1 question for TTWO
Omar Dessouky
Bank of America
1 question for TTWO
Competitors mentioned in the company's latest 10K filing.
| Company | Description |
|---|---|
Activision Blizzard | The company competes with other interactive entertainment companies, including those offering mobile games, that range in size and cost structure from very small with limited resources to very large with greater financial, marketing, technical, and other resources than theirs. |
The company competes with other interactive entertainment companies, including those offering mobile games, that range in size and cost structure from very small with limited resources to very large with greater financial, marketing, technical, and other resources than theirs. | |
Embracer Group AB | The company competes with other interactive entertainment companies, including those offering mobile games, that range in size and cost structure from very small with limited resources to very large with greater financial, marketing, technical, and other resources than theirs. |
Playrix | The company competes with other interactive entertainment companies, including those offering mobile games, that range in size and cost structure from very small with limited resources to very large with greater financial, marketing, technical, and other resources than theirs. |
The company competes with other interactive entertainment companies, including those offering mobile games, that range in size and cost structure from very small with limited resources to very large with greater financial, marketing, technical, and other resources than theirs. | |
The company competes with other interactive entertainment companies, including those offering mobile games, that range in size and cost structure from very small with limited resources to very large with greater financial, marketing, technical, and other resources than theirs. | |
Scopely | The company competes with other interactive entertainment companies, including those offering mobile games, that range in size and cost structure from very small with limited resources to very large with greater financial, marketing, technical, and other resources than theirs. |
Tencent | The company competes with other interactive entertainment companies, including those offering mobile games, that range in size and cost structure from very small with limited resources to very large with greater financial, marketing, technical, and other resources than theirs. |
Ubisoft Entertainment S.A. | The company competes with other interactive entertainment companies, including those offering mobile games, that range in size and cost structure from very small with limited resources to very large with greater financial, marketing, technical, and other resources than theirs. |
The company competes for both licenses to properties and the sale of interactive entertainment software with Sony, which is a large developer and marketer of software for its own platforms. | |
The company competes for both licenses to properties and the sale of interactive entertainment software with Microsoft, which is a large developer and marketer of software for its own platforms. | |
Nintendo | The company competes with Nintendo for the sale of interactive entertainment software. |
The company faces competition from high-profile companies with significant online presences with new and expanded mobile gaming offerings, such as Apple. | |
The company faces competition from high-profile companies with significant online presences with new and expanded mobile gaming offerings, such as Google. |
| Customer | Relationship | Segment | Details |
|---|---|---|---|
Apple | Digital storefront for mobile transactions | Mobile | Exceeded 10% of FY 2025 net revenue ; included in top 5 customers representing 81.0% of net revenue , part of the 72.1% of gross A/R. |
Sony | Licensing for PlayStation console publishing | Console | Exceeded 10% of FY 2025 net revenue ; included in top 5 customers representing 81.0% of net revenue , part of the 72.1% of gross A/R. |
Digital storefront for mobile transactions | Mobile | Exceeded 10% of FY 2025 net revenue ; included in top 5 customers representing 81.0% of net revenue , part of the 72.1% of gross A/R. | |
Microsoft | Licensing for Xbox console publishing | Console | Exceeded 10% of FY 2025 net revenue ; included in top 5 customers representing 81.0% of net revenue , part of the 72.1% of gross A/R. |
Notable M&A activity and strategic investments in the past 3 years.
| Company | Year | Details |
|---|---|---|
The Gearbox Entertainment Company, Inc. | 2024 | Acquisition valued at $460 million through newly issued Take-Two common shares, completed on June 11, 2024, that added key creative IP (including Borderlands, Tiny Tina’s Wonderlands, Homeworld, among others) and an assembled workforce with expected synergies, despite initial net loss contributions. |
Popcore GmbH | 2022 | Undisclosed financial terms acquisition by Rollic (a Zynga subsidiary) aimed at strengthening its position in hyper-casual mobile gaming by leveraging Popcore’s expertise in ad-driven, free-to-play games and its strong development team based in Berlin. |
Zynga Inc. | 2022 | Enterprise value of $12.7 billion with consideration combining cash, stock, and replacement equity awards, the deal expanded Take-Two’s portfolio in mobile gaming, delivered significant developed game technology, branding assets, and goodwill, and was partly funded through a $2.7 billion senior notes offering. |
Recent press releases and 8-K filings for TTWO.
- 2K and Gearbox Software released Borderlands 4 worldwide on PS5, Xbox Series X|S, and PC; Nintendo Switch version arrives October 3, 2025
- Title features four new Vault Hunters, billions of weapons, seamless zone traversal, new traversal mechanics, and instanced loot with dynamic co-op for up to four players
- Available in three editions: Standard ($69.99), Deluxe ($99.99), and Super Deluxe ($129.99), each offering tiered digital content
- Post-launch support includes a roadmap of free and paid DLC packs, with details forthcoming on www.borderlands.com
- Take-Two confirms GTA 6 remains on track for May 26, 2026 release, with CEO expressing very high conviction in the timeline.
- Delivered a strong Q1, raised full-year guidance, and saw performance across all labels with two new mobile hits—Match Factory and Color Block Jam—driving new customer growth.
- 2K label highlights include NBA 2K25 selling 11.5 million units and recurrent consumer spending up 48% YoY; WWE series strong and pipelines include Mafia: The Old Country, Borderlands 4 and new NBA 2K.
- Exploring AI to improve efficiencies but anticipates production costs will remain high, underscoring the challenge of creating hit titles.
- Borderlands 4 pre-orders are now open with a global release on September 12, 2025 for PS5, Xbox Series X|S, and PC (later on Nintendo Switch 2).
- Game editions priced at $69.99 (Standard), $99.99 (Deluxe), and $129.99 (Super Deluxe), each offering increasing amounts of post-launch content.
- All pre-orders include the Gilded Glory Pack, featuring exclusive skins and an ECHO-4 Drone Skin.
- A robust roadmap of free and paid post-launch content—new missions, regions, gear, vehicles, and challenges—will support the title post-launch.
- Public Offering Details: The company priced an underwritten offering of 4,750,000 shares at $225.00 per share, with an option for an additional 712,500 shares.
- Financial Impact: The expected net proceeds are approximately $1.04 billion, rising to $1.19 billion if the option is fully exercised, intended for general corporate purposes including debt repayment and future acquisitions.
- Closing Date: The offering is scheduled to close on May 22, 2025.
- Q4 2025 GAAP Net Revenue was $1,583 million (within guidance $1,519–$1,619 million) with a GAAP Net Loss of $(3,726) million and EPS of $(21.08) .
- Q4 2025 Net Bookings reached $1.58 billion, topping guidance and reflecting a 17% YoY increase .
- Fiscal 2025 Net Bookings totaled $5.65 billion, underscoring strong performance across key labels .
- Provided FY 2026 guidance of $5.9–6.0 billion in net bookings .
- Recurrent Consumer Spending grew by 14%, surpassing expectations .
- Highlighted key game releases including NBA 2K25, Civilization VII, WWE 2K25 and noted record engagement with a GTA trailer achieving 475 million views in 24 hours .
- Outlined a robust pipeline with 13 titles planned for fiscal 2026 and an extended schedule through fiscal 2027 and 2028, including the upcoming release of Grand Theft Auto VI in FY 2027 .
- Growth guidance reiterated: The company expects sequential increases and record net bookings in Fiscal 2026 and 2027.
- GTA VI release update: Rockstar Games has announced the new release date for Grand Theft Auto VI on May 26, 2026, now set for Fiscal Year 2027.
- Financial results timeline: Take-Two will report its Q4 and Fiscal 2025 results on May 15, 2025, with further details provided in the document.