Take Two released a strong set of financial results today, but with one big spoiler: GTA 6, the game that is expected to handily become one of the biggest-selling entertainment products of all time, has been delayed again.
The new release date is six months later, in the prime Thanksgiving spot of 26th November 2026. Take-Two Interactive CEO Strauss Zelnick will not, when asked, commit to it not being delayed again. He is, however, “confident in the date, that’s why we set it,” he told us. “We are trying very hard to deliver the most extraordinary interactive entertainment experience ever created, Rockstar and we are aligned on that, we’re feeling really good about it.”
He’s “not in the least” bit worried about the impact this might have on the business. “As you know, occasionally across our entire company, including 2K and our mobile business, at times more time is required to polish a title to ensure that it’s released in its best possible form. And of course it’ll release in the same fiscal year as the prior date.”
GTA will, of course, be a huge hit – and while the delay may briefly wobble Take-Two’s share price, it quickly recovered from the impact of the previous one and the game will still sell extremely strongly whenever it shows up. The greater impact will be on the industry at large – including the many publishers who built their 2026 plans around an expected attention void in May, and now have to tear them up and start again.
Does Zelnick feel responsible for the impact the delay will have? “You’re right that we’re an important industry participant, and we and our competitors will tailor our release dates to the competitive landscape,” he says. “But at the end of the day it’s our responsibility to do the right thing for our consumers and that means delivering the best possible entertainment experience.”
The company isn’t relying on GTA for its success, either. The latest financials show another banner year for mobile, which accounts for 46% of the company’s revenue compared to Rockstar’s 15%. Zelnick sees that level of performance as crucial to the company’s ambition to “be known to be the premier interactive entertainment company on earth. That’s what we’re trying to do around here.”
“In order to be that company, we need the kind of exposure to mobile that we have. It’s a very significant part of the business, it’s grown faster than the console and PC parts of the business, and the fact Zynga represents roughly 50% of our net bookings is I think a really good thing.
“And most importantly, Zynga’s ability to launch successive new hits is really impressive. We have legacy titles like Toon Blast delivering record results, at the same time that new titles like Match Factory and Color Block Jam are crushing it. Frankly I couldn’t be happier with the results the Zynga division is delivering.”
He expects the recent changes in mobile app store legislation to deliver additional revenues. “We’ve been focused on the direct-to-consumer business ever since we acquired Zynga, and we’ve reported that it’s grown rapidly and it’s obviously highly additive” he said “It’s a very high-margin business compared to the app stores. The most recent legislative result has put us in a position to do more to build that up internationally, and we are doing more, we expect to generate more net bookings from those activities, and they’ll have associated margins that are higher.”
He cites Zynga as being a prime example of the company’s investment in original IP, even while it banks strong performance on established performers like NBA 2K26 and Mafia: The Old Country.
“One thing that Zynga’s willing to do is invest in legacy games and new games on an ongoing basis. Their ability to generate new hits I think is unparalleled in the business now. So we’re for sure pursuing additional intellectual properties in mobile,” he said. “And on the console side, equally, despite having 11 franchises which have each sold at least five million units in an individual release, we are also bringing new properties to market, whether that’s Ken Levine’s Judas, which is coming up, or Ethos from 31st Union at 2K.”
The company is not, however, rushing to capitalise on the recent boom in gaming transmedia, which is not surprising given the dismal reception to the 2023’s Borderlands movie. With other adaptions like Netflix’s Fallout series faring much better, Take Two continues to have conversations about licensing but, said Zelnick, “selectively”.
“Sometimes they work out well, sometimes not as well, we’re not in the film or television production business and we’re not going to be. The economics of that business are not positive for us. So we would only be in a licensing scenario when it makes sense, and we’re going to continue to be selective. We’re not going to rule out the possibility.”
Otherwise, Take Two finds itself increasingly alone as the last remaining large-scale US gaming publisher, following Activision and Bethesda’s absorption into Microsoft and EA on the path to private ownership. Zelnick considers it to be in a position of strength, “especially when you look at our results, our earnings, our cash flow and our balance sheet.”
“We’re proud of our experience as a public company,” he said. “Our stock, in the eighteen years I’ve been responsible for this organization is up just shy of 5,000%. As long as we keep delivering we have the right to be independent.”
