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Take-Two's 'Red Dead Redemption 2' Has Blockbuster Release Weekend

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Take-Two's 'Red Dead Redemption 2' Has Blockbuster Release Weekend
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Video game maker Take-Two Interactive Software, Inc (NASDAQ: TTWO) has a hit on its hands: the company's "Red Dead Redemption 2" has raked in $725 million in sales in just three days. 

What Happened

Rockstar Games, a unit of Take-Two Interactive, said in a Tuesday press release sales of "Red Dead Redemption 2" are strong enough for it to be considered the single-biggest opening weekend in the history of entertainment. The new game is considered to be the second-highest grossing entertainment launch of all time,  second to Rockstar's own "Grand Theft Auto V," which hit $1 billion in retail sell-through within three days of its launch.

"Red Dead" is described by Rockstar as the "first game built from the ground up for new generation hardware, and seamlessly blends gameplay and storytelling."

Why It's Important

One of the more notable takeaways from the 'Red Dead' announcement is that the company's figures are based on units it has sold so far rather than units shipped, according to Forbes' Paul Tassi. The game was expected to collect just $500 million in sales in its first three days, which implies the company posted "monstrous sales numbers," he said. 

"Red Dead" sales figures are well above expectations for three reasons, Tassi said:

  • It's a sequel to a "hugely beloved game."
  • Early reviews say the game is "one of the best" of the year, if not the generation.
  • Tcompany rarely releases new games, so when it does, it is an "earth-shattering event."

What's Next

It is too early to project the ultimate success of the new 'Red Dead' game, the Forbes story said. If the game sells at twice the pace of the original, it could be considered a top-10 videogame of all time.

Investors are encouraged by the announcement, with Take-Two's stock up 8 percent at $120.67 at the time of publication Tuesday. 

Related Links:

Why Bernstein Thinks Take-Two Is Set To Outperform

Chart: Top 12 Video Games For The Holiday Season

Screenshot courtesy of Rockstar Games. 

Posted-In: Forbes Red Dead Red Dead Redemption 2 Rockstar Games video gamesNews Retail Sales Media Best of Benzinga

 

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