Take-Two Posts a Loss
-
Category: News ArchiveHits: 591
Given Grand Theft Auto IV's strong results, many analysts have expressed doubt as to whether Take-Two can continue to perform in 2009.This is of interest as other major publishers - like EA - have already appeared shaky and have been forced into job cuts despite the massively successful holiday season for gaming. Are we looking at a game industry recession?
One area of uncertainty was the fate of the Rockstar studio talent, whose contract is up in February 2009 -- and Take-Two addressed this issue today by negotiating a new agreement with key employees Sam and Dan Houser and Leslie Benzies that would keep them with the publisher until 2012.
Feder also assured investors that the company is focused on future opportunities to broaden its offering, noting that downloadable content is a "significant opportunity... in the near term."
The Lost & Damned expansion pack for GTA IV launches on February 17th, and the company is "looking across our entire portfolio" for other opportunities to create DLC revenue streams.
