Take-Two's dour forecast deepens concern in videogame industry

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Take-Two Interactive Software Inc lowered its annual bookings forecast on Monday, signaling a deeper struggle faced by videogame publishers to keep gamers glued amid a weakening economy and broader slump in the gaming market.

Despite releasing to good reviews on Dec. 2, Take-Two's role-playing game "Marvel's Midnight Suns" was the 14th most downloaded title on Sony's PlayStation 5 in December, trailing even the two-year-old title "Spider-Man: Miles Morales."

As inflation squeezes budgets, more gamers are expected to stick to their favorite gaming franchises, instead of experimenting with newer titles from other studios, analysts have said.beat Street estimatesTake-Two posted third quarter adjusted sales of $1.38 billion, compared to analysts' estimate of $1.46 billion. Excluding items, it earned 86 cents per share during the quarter.

The company now expects full-year adjusted sales between $5.2 billion and $5.25 billion, compared with $5.4 billion to $5.5 billion forecast previously.

 

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How abooooout stop milking The dry cow of GTA5 online and maybe focus on GTA6? No? And giving Red Dead Redemption online a propper gamepley? Also no? Trying not to make pay per win games? Out of discussion? Well… looks like you throw away an entire devoted fanbase for fastmoney

That's why Rockstar should have remained a privately owned entity so it could focus on making great art instead of being pressured to return quarterly profits. Remember GTAV made more money then any other media creation in all time but took a decade to produce.

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