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According to its most recent 10-K SEC filing, the video game publisher plans to burn $ 89 million on marketing during the fiscal period ending March 31, 2024. This is almost double the marketing budget of Take Two for any other financial year that falls within the next five years. The huge marketing expenditure in FY 2024 is seen as a sign of the release of GTA VI during that time.
The report quotes a portion of Jeff Cohen’s note to investors: “We are not sure how much we should read about this change, but we will note that this revelation accurately revealed the launch of Red Dead Redemption 2 before the announcement of that game. Had predicted. [Take-Two management] Over the next five years have spoken very confidently about the pipeline and the performance of existing live services has been excellent. However, the timing of the next Grand Theft Auto is at the top for investors, especially with stocks near all-time-highs. ”
Looking at GTA V is still a hit among customers and, moreover, the next generation of consoles have yet to be launched, it seems that there is no hurry to launch the next iteration in Take Two’s Rockstar Game Gaming franchise Is not. The launch of GTA VI makes more sense two years from now, when more people will own next gen gaming consoles like the PS5 and Xbox Series X, and the game will reach a wider audience. For now, GTA V is ragging for the company in Moolah, as is Red Dead Redemption 2.
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