00:00A look at shares of Take-Two Interactive, up more than 4% now. The company posted first quarter bookings,
00:05beating estimates at 1.39 billion, but Take-Two kept its full year forecast below Wall Street expectations and trimmed
00:13its profit outlook. And of course, all eyes remain on the biggest release in the pipeline, Grand Theft Auto 6.
00:20Joining us is Bloomberg's Jason Schreier.
00:22I honestly kind of feel like we can park the performance in the quarter gone and the kind of financial
00:30outlook. It is all about GTA. You have been talking to the company about that. They are signaling that the
00:39pre-demand tells us something that this hasn't happened before.
00:45Yeah. Investors, it's funny, these bookings and even on revenue numbers, beating, missing estimates, doesn't really matter. The number that
00:52investors really want to know is the number of pre-orders that GTA 6 has right now.
00:58And Take-Two is not saying them. Take-Two has said that the number is unprecedented and exceptional and astounding.
01:07Those are all words that CEO Strauss Zelnick used.
01:10Yes.
01:10But they're not saying the exact numbers. So all eyes are on November 19th for the launch day and the
01:17final sales figure.
01:18I guess the idea is that the world will have an expectation of what that number would be because we
01:24have a really good sense of what the prior GTA titles were able to achieve, right?
01:29We know the date, but give us the kind of backstory of why it's taken us so long to get
01:34to GTA 6.
01:36Yeah, a couple of things. So GTA 5, the last game in the series, came out in 2013 and has
01:41since sold 230 million copies.
01:45It did really well on launch day, but a lot of those sales have come in the year since then.
01:51It was really a long tail, an unprecedented long tail for that game.
01:55And so the numbers that we're expecting here are going to be exponentially higher than the numbers we saw from
02:00GTA 5 on launch day because the series has gotten all that much bigger since then.
02:06As for why it's taken so long, this game has been in development for about eight years since the release
02:13of Red Dead Redemption 2, which was Rockstar's previous game.
02:18And it's big, it's fast, it's got a lot going on. We'll find out more soon.
02:22And another kind of date to watch if you're interested in Take-Two shares is August 27th, which is when
02:29Rockstar and Take-Two have said they're going to show the first extended look at GTA 6, meaning what it's
02:36actually going to look like and feel like to play the game rather than the kind of cinematic trailers that
02:42they've shown so far.
02:42And that's actually, another unprecedented thing is that it's going to be a Netflix exclusive.
02:48The gameplay is going to be released on Netflix six hours before it's released on the rest of the internet.
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