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Take-Two Says Major Investment in new IP's is Essential to Long-term Survival

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Karl Slatinoff, Take-Two president says, "We should be focusing 50 percent of our efforts all the time on new IP."

Annualizing franchises like Grand Theft Auto or Red Dead Redemption is not a good idea, also major investment in new IP is essential to its long-term survival.

"We love putting out titles where we've got history, and they're really, really big titles. Because they're safe and they're predictable and you know you can generate a lot of cash flow from them," Slatoff said during this week's MKM Partners Investor Day Conference. "At the same time, to ignore the opportunity of creating new IP, to not dedicate a substantial portion of your resources towards developing new IP, is the kiss of death for creative franchises."

"Because god forbid, one of your core IP starts to deteriorate over time, then you're in real trouble. So how do we actually manage that to avoid that deterioration or fatigue? One is don't come out with stuff every year," he added.

"Unless it's a sports title where you do come out every year. But in general, your big, core franchises; big releases every year that are hyped up as big releases is not a great way to--it may be a great way to monetize the near-term cash flow but not to make sure that franchise exists for the long-run. That's a very important piece of it; it needs some breathing room."

Take-Two believes that the publisher can monetize those games in between big releases with downloadable content expansions and virtual currency. CEO Strauss Zelnick referred to Grand Theft Auto Online, which lets you spend real-world money for virtual items, as "the gift that keeps on giving." Slatoff also teased, "If we had any online subscriptions, that would also be in that category; we don't have any subscriptions at this point."

Take-Two's one major new IP to be published is Evolve, a a 4v1 monster-hunting game from the creators of Left 4 Dead. The game was originally set to launch in 2014, but it was recently delayed to February 2015.

 

 



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