Take-Two Interactive's Chairman and CEO, Strauss Zelnick, recently discussed the extended development timeline for Grand Theft Auto 6 and the company's significant investment in mobile gaming. In an interview with Bloomberg, Zelnick, who transitioned from President of 20th Century Fox to the gaming industry in 1993, explained the reasons behind the nearly 12-year gap between GTA 5 and its highly anticipated successor. Zelnick emphasized that Take-Two doesn't aim to release intellectual property annually, unlike some competitors. He stated that their approach focuses on building immense anticipation while acknowledging that creating large, complex gaming experiences requires considerable time. He further highlighted the rigorous standards set by Rockstar Games, noting their pursuit of perfection, which contributes to the lengthy development cycles. The high bar set by Rockstar necessitates a significant time investment to meet their quality expectations. The secrecy surrounding the GTA 6 release date is intentional, according to Zelnick, driven by the unprecedented levels of hype surrounding the title. Take-Two prefers to release marketing materials closer to the actual release window to maximize excitement and manage expectations. This strategy aims to strike a balance between building anticipation and avoiding prolonged periods of unmet expectations. Zelnick believes this approach is more effective than revealing release schedules years in advance, as some competitors do. While console games like GTA remain vital, Zelnick also elaborated on Take-Two's strategic emphasis on mobile gaming, which was significantly strengthened by the acquisition of Zynga in mid-2022. Despite a temporary downturn in the mobile market following the acquisition, Take-Two views mobile gaming as a long-term growth opportunity. Currently, mobile accounts for approximately 50% of Take-Two's net bookings, demonstrating its importance to the company's overall revenue. Take-Two's ambition in the mobile sector is to achieve the number one market share position. Zelnick praised the Zynga team for their success in launching new games like Match Factory and Color BLOCK Jam, as well as managing established franchises such as Words with Friends and Empires & Puzzles. These titles contribute significantly to Take-Two's mobile gaming portfolio and support their goal of mobile market dominance. The company's focus remains on delivering high-quality gaming experiences across both console and mobile platforms to capture a larger share of the $180 billion worldwide video game market.
