The gaming industry is home to some of the biggest properties in the world and that encompasses every entertainment medium. Publisher Take-Two Interactive houses two major companies that handle their gaming brands, 2K Games and Rockstar Games.
Gamers always want to know when the next iteration in a major series like Red Dead Redemption, Grand Theft Auto or Borderlands is coming, however, rushing a game isn’t what Take-Two wants. These games have lengthy development periods and that’s for the sake of quality.
It has been since 2010 that gamers saw the last iteration in the Red Dead Redemption franchise and there has been no official indication as to when a new one will be coming. Take-Two Interactive CEO Strauss Zelnick spoke about some of the firm’s biggest brands and what they expect when they release a new iteration.
“We’ve brought Bioshock to market, you’ve had Borderlands releases pretty regularly, so there are some of our titles that have begun to look like that. Some of our very biggest titles like Grand Theft Auto and Red Dead, these have long development cycles and moreover, want them to be massive consumer events,” Zelnick said at the MKM Partners Conference.
Grand Theft Auto V was the most recent iteration in the famed franchise, and that dropped onto the last-generation of systems back in 2013, with subsequent versions dropping on PS4, Xbox and PC in the months following. It’ll be interesting to see what, if anything, comes from Rockstar Games over the next year, as they are more than due for a new game to be released.
The gaming industry sees some brands release each year and those tend to generate a serious amount of revenue for the companies that launch them. Take-Two Interactive isn’t interested in yearly iterations, outside of their sports titles, and Zelnick talked further about the process that goes into that decision.
“We have our annualized titles and we intend to keep bringing those to market. We have our cataloged titles, which form a nice basis for revenue and profitability…The market asks us, why don’t you annualize your titles? We think with the non-sports titles, we are better served to create anticipation and demand on the one hand, and on the other hand to have the highest quality titles on the market, and you can’t do that annually.
“What we would like to be able to do is have enough intellectual property that in any given year, whether we have title A or title B, that’s not the issue, we’ll have fewer than a handful of really great franchises and new intellectual property that together really has the economic impact of an annualized business, without the detriments of an annualized business…With a three plus year development cycle, it’s not going to happen overnight, but the good news is we are a whole lot closer to that than we have ever been,” Zelnick said.