Net revenue, income, and bookings are all up year over year Rockstar-parent Take-Two Interactive as the company closes out a fiscal year once again dominated by in-game spending.
Take-Two reports $3.37 billion in net revenue for the year ending March 31, 2021, a 9 percent increase from the $3.1 billion reported the year before.
The overwhelming majority of that revenue came from digital sources. For the 2021 year, 87 percent of net revenue (or $2.91 billion) was digitally derived, while 62 percent of net revenue came solely from "recurrent consumer spending" like in-game currency or season passes.
(Both net revenue and net income throughout are reported according to the GAAP accounting standard.)
In both cases, Take-Two Interactive's usual heavy hitters like NBA 2K21 and 2K20, Grand Theft Auto V and GTA Online, Red Dead Redemption 2/Online, Social Point's mobile games, Sid Meier's Civilization VI, and Borderlands 3 are credited as driving the year-over-year increase.
"Throughout the year, we enhanced our organization for the long term by broadening our portfolio of offerings, capitalizing on diverse business models, enhancing our infrastructure, and most importantly, investing in our creative talent,” reads a statement from Take-Two CEO Strauss Zelnick.
Zelnick also notes that fiscal 2021 marks a new net bookings record for the company, with $3.6 billion in net bookings reported for the full year. Net bookings, or revenue minus the deferred income associated with some game content purchases, increased 19 percent from last year's $2.99 billion. Just over $3 billion of that was digitally derived, up from $2.4 billion in fiscal 2020.
Looking just at the three-month quarter ending March 31, Take-Two Interactive reported $839.4 million in net revenue, up from $760.5 million the year before, as well as net income of $218.8 million, up 78 percent from $122.7 million last year.
“In fiscal 2022, we plan to deliver an exciting array of offerings, including four immersive core releases, of which two will be from new franchises," continues Zelnick. "In addition, we expect fiscal 2022 to be our second consecutive year of net bookings in excess of $3 billion."
"With the strongest pipeline in our company’s history, including many new releases planned for fiscal 2023 and fiscal 2024, we will be making significant investments this year to enhance our enterprise in key areas such as creative talent, IT, and other infrastructure."
That pipeline so far includes 21 titles to be released in the current fiscal year (April 1, 2021 to March 31, 2022), including 10 free-to-play mobile games, one indie, and six "new iterations of previously released titles." Looking into the 2023 and 2024 fiscal years adds another 41 titles to that lineup, including another 10 free-to-play mobile games, seven new sports sims, and five indie games.