Nov 8 – Take-Two Interactive Software said it would release a trailer early next month for the latest installment in its best-selling “Grand Theft Auto” videogame franchise, ending a years-long wait and sending its shares 8% higher on Wednesday.
The teaser for “Grand Theft Auto VI” will come more than a decade after the launch of its predecessor and will coincide with the 25th anniversary of Rockstar Games, the Take-Two (TTWO.O) division behind the game.
Several analysts have predicted the new title would be an instant hit with billions of dollars in sales each year.
“The last one was the best-selling game of all time so not surprising that investors expect big things from the next installment,” said Wedbush analyst Michael Pachter.
He expects the game to be priced around $70, compared with the nearly $60 launch price of ‘GTV V’.
A hack last year released dozens of development videos of “GTA VI”, showing footages of robberies, gunplay and open-world driving in what was one of the biggest gaming leaks.
Bloomberg News, which first reported the news on Tuesday, has previously said the game would be set in a fictional version of Miami and would feature two protagonists, a man and a woman.
Take-Two had hinted at the game’s announcement in May, saying it would launch several “groundbreaking titles” in 2024 and projecting a surge in net bookings to over $8 billion next year.
“GTA V” has garnered around $7.68 billion in sales since launch and ranks among one of the most profitable titles ever.
Take-Two was on track to add nearly $2 billion to its market value, based on the early trading share price of $147.
The stock has risen by nearly a third this year, partly due to growing expectations of a reveal for the “GTA VI”.
Reporting by Aditya Soni and Zaheer Kachwala in Bengaluru; Editing by Sriraj Kalluvila
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