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NBA 2K, GTA, and more push Take-Two's net revenue over $3B for 2019-20 year

Take-Two CEO Strauss Zelnick says the fourth quarter in particular beat expectations, leading to a number of full-year milestones at the game giant.

Take-Two Interactive’s net revenue for the 12 months ending March 31, 2020 surpassed $3 billion, thanks in no small part to flagship franchises like Grand Theft Auto, Red Dead Redemption, and the NBA 2K games, among several others.

Many of those same titles helped push a 41 percent increase in digitally derived net revenue during that same period, ultimately closing the 2020 fiscal year with new record net bookings, both in terms of digital and net bookings from recurrent consumer spending.

For the 2020 fiscal year, Take-Two Interactive says that NBA 2K20, NBA 2K19, Grand Theft Auto 5 & Online, Red Dead Redemption 2 & Online, Borderlands 3, The Outer Worlds, WWE SuperCard, WWE 2K20, mobile games from Social Point, and Cid Meier’s Civilization VI were all the largest contributors to 16 percent increase in net revenue, up to $3.089 billion from last year’s $2.668 billion.

That same cast, with a slight variation on order, is credited for pushing digitally-delivered GAAP net revenue up to $2.379 billion for the year, up from $1.682 billion reported for the year before. 

For just the last three months of the year, Take-Two CEO Strauss Zelnick calls out the company’s fourth quarter results as “significantly better-than-expected” at $760.5 million GAAP net revenue during that period, up 41 percent year-over-year. Recurrent consumer spending alone brought in 54 percent of that total GAAP net revenue, and jumped 40 percent from 2019’s figures. 

According to Zelnick, the year as a whole saw Take-Two hit “numerous milestones, including record Net Bookings of nearly $3 billion, as well as record digitally-delivered Net Bookings, Net Bookings from recurrent consumer spending, and earnings, with “nearly all” of Take-Two’s games outperforming in the Q4.

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