Videogame publishers in the U.S. are seeing strong sales of popular titles such as Electronic Arts’ “FIFA” and Activision Blizzard’s “Call of Duty”. This signals resilience in the industry after it struggled last year with a slowdown in demand due to the COVID-19 pandemic. Take-Two Interactive Software Inc reported net bookings growth of 11-66% in the March quarter. Popular titles such as “NBA 2K23”, “Grand Theft Auto V” and “Call of Duty: Modern Warfare 2” were some of the top contributors to the growth.
Analysts believe the momentum could continue, with EA forecasting annual bookings in line with estimates as it gears up to launch a rebranded version of its soccer franchise this year. Take-Two is also expecting to launch several “groundbreaking titles” in 2024, fanning expectations for the release of the long-awaited sequel to “GTA V”. The company forecast net bookings of more than $8 billion for next year, which was above analysts’ estimates.