Take-Two Interactive is looking to spend $84 million in marketing for fiscal year 2024.
Rumors about Grand Theft Auto 6, Rockstar Games’ next open world magnum opus, have already begun circulating. The game was noted to be in early development but a recent SEC filing by Take-Two Interactive might have hinted at its release window. As Stephens analyst Jeff Cohen pointed out (via VentureBeat), it’s possible that Grand Theft Auto 6 releases by March 31st 2024.
In Take-Two’s 10-K SEC filing, $89 million is expected to be spent on marketing for the 12 month period ending March 31st 2024. This was pointed out to be more than twice that for fiscal years in the following half-decade. Even more interesting is that Take-Two initially informed investors of higher marketing costs for fiscal year 2023 but changed this to fiscal year 2024.
As for why this could indicate a potential release window, Cohen explains, “We are not sure how much we should be reading into this shift, but we would note that this disclosure accurately predicted the launch of Red Dead Redemption 2 prior to that game’s announcement. [Take-Two management] has spoken very confidently about the pipeline over the next five years and existing live services execution has been excellent. However, the timing of the next Grand Theft Auto remains top-of-mind for investors, particularly with the stock near all-time-highs.”
While Grand Theft Auto 5 is still performing extremely well (over 130 million units shipped and counting), the title is almost seven years old. Even if Red Dead Redemption 2 released in 2018, a medium-scale Grand Theft Auto 6 by March 2024 isn’t completely unrealistic. How Take-Two will have the next game co-exist with Grand Theft Auto Online, which is still bringing in revenue, remains to be seen. Stay tuned for more details and reports in the meantime.