Take-Two Interactive's CEO Strauss Zelnick recently addressed investor concerns regarding the impact of ongoing tariff changes on the gaming industry during a Q&A session. Despite worries about potential price hikes for consoles like the Xbox Series X and the anticipated PlayStation 5 increases, Zelnick conveyed his confidence that Take-Two's fiscal guidance for the upcoming year would remain stable. He emphasized that the company's substantial install base on current platforms mitigates the impact of any changes. Furthermore, a significant portion of Take-Two’s revenue comes from digital sales of popular games, including Grand Theft Auto V and Red Dead Redemption 2, which are unaffected by tariffs. Zelnick also acknowledged the uncertainty surrounding tariffs but believes that their existing strategy will hold strong.
Will the ongoing tariffs affect the price of gaming consoles in 2023?Yes, ongoing tariffs may eventually lead to price increases in gaming consoles, as seen with the recent Xbox Series console price bumps and potential PlayStation 5 changes. However, Take-Two’s CEO has expressed confidence that such changes won't significantly impact their business in the near term.
Grand Theft Auto V, released by Rockstar Games in 2013, has continued to be a monumental success, bolstered by continuous updates and a thriving online community. As anticipation builds for Grand Theft Auto 6, players remain engaged with the franchise, which significantly contributes to Take-Two's revenue stream amid ongoing market changes.
Casey Loh
Casey Loh is a tech-savvy writer who specializes in the intersection of gaming and technology. With a background in computer science, Casey brings a technical lens to her reviews, breaking down the nuts and bolts of game engines, graphics, and AI innovation.
Read more articles from Casey Loh
Comments
Console price hikes might sting, but Take-Two’s got that GTA Online money printer to keep things cozy. At this point, GTA V’s success feels like a cheat code for weathering any market turbulence.
(Strikes a balance between acknowledging the financial impact and making a lighthearted nod to GTA V’s unstoppable legacy.)
Tariffs might bump console prices, but with GTA V still printing money, Take-Two’s probably chilling. Meanwhile, we’ll all just keep grinding in Los Santos until GTA 6 finally drops.
(Keeps it casual, acknowledges the financial angle without rehashing the article’s phrasing, and ties in the enduring hype for GTA.)