Take-Two Revenues Down, 1 Million BioShocked, 2K Starts to Play

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New York-headquartered game conglomerate Take-Two posted its third quarter fiscal year 2007 results today, revealing a 14.4% year-over-year drop in revenue. The quarter ending July 31 follows Take-Two's first and second quarter losses with a $58.5 million net loss, though the deficit is less than the $91.4 million loss posted in the third quarter of 2006.

"Take-Two is well-positioned to capitalize on the growth of the video game market as next generation consoles gain traction," said Take-Two CEO Ben Feder in the earnings release.

Accompanying the bummer of a filing was news that 2K Boston/2K Australia's underwater shooter demo for BioShock has become the fastest demo to hit 1 million downloads on Xbox Live Marketplace. Though no ship-through numbers were given for the retail software, Take-Two says 1.5 million units of BioShock have shipped worldwide.

And yet another announcement from Take-Two revealed formation of 2K Play, the publisher's new casual games label. Take-Two has secured a licensing agreement with children's TV channel Nickelodeon, making the first two 2K Play published games based on Dora the Explorer and Go, Diego, Go!

The financial statement from Take-Two also detailed the company's guidance for fiscal year 2008. Unlike 2007, which Take-Two has predicted will end with both a net loss for the fourth quarter and the fiscal year, the company predicts profitability in fiscal year 2008 led by revenues of $1.1 billion to $1.4 billion.

The third quarter marked Take-Two's first entry into publishing for Nintendo's Wii console, with Blue Castle Games' The Bigs and 7 Studios' Fantastic Four: Rise of the Silver Surfer retailing for the console in June. In addition to a strong lineup led by Grand Theft Auto IV, titles published for Nintendo's top-selling console could enhance Take-Two's revenue stream.

Wii titles in the third quarter made up just 6% of Take-Two's overall revenue, but upcoming releases this year include Rockstar Leeds' Rockstar Games presents Table Tennis, Konami's MLB Power Pros, and Rockstar Toronto's Manhunt 2.

From The Chatty

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    September 10, 2007 3:10 PM

    I'd like to see the numbers for PC sales vs. 360 sales.

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      September 10, 2007 3:14 PM

      As would I!

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      September 10, 2007 3:21 PM

      I saw The Pc Version at #1 at amazon a week ago here in germany...8th place 360 i think...

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      September 10, 2007 3:23 PM

      As would I but I think either way PC gamers will lose

      If BioShock sold bad on the PC as opposed to Xbox 360, it will be seen as a continued sign of the PC's decline, console gaming's dominance, and the need to move to all-console development. If it's really the case that a lot of people held off on the PC version because of the uncertainty surrounding the DRM, there's no way to know.

      If it sold well on the PC as opposed to to the Xbox 360 (meaning, it sold proportionally well compared to the 360) then it will be a sign that the DRM worked and we'll be seeing a lot more of it. Outside of people who legitimately bought it and couldn't play it, this isn't a bad thing but ideally I'd really like to see every game take GalCiv2's approach and sell HL2 numbers.

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        September 10, 2007 3:59 PM

        I am sure that 90% of gamers bought Bioshock without even thinking of the DRM issue. It's only a small minority that really gives a fuck about those stupid things

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      September 10, 2007 3:33 PM

      Here ya go: http://ir.take2games.com/ReleaseDetail.cfm?ReleaseID=263379

      A little over halfway down the page.

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        September 10, 2007 4:02 PM

        Where exactly ? I only see a mention of the TOTAL sales, not the Xbox 360 VS PC break down. The total number was already in the new item.

        famine101, wanted to know the breakdown.

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          September 10, 2007 5:45 PM

          Motion seconded, I would be interested to know the breakdown there also.
          Congrats to them on the sales though, I wonder how much it's going to keep going. Seems like there's lots of chatter about this game.

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      September 11, 2007 6:01 AM

      Add one more for pc. I haven't bought mine yet but will soon. :)