[UPDATE] Take-Two pushes back blockbuster to next year, saying "time-intensive" nature of dual-platform development; annual earnings estimate plummets by over $200 million.
The overcrowded monkey house that was the 2007 holiday release schedule lost one of its 800-pound gorillas today. Without warning, this afternoon Take-Two Interactive stunned the game industry by announcing it was delaying Grand Theft Auto IV to the second quarter of its 2008 fiscal year, which begins on February 1, 2008. Published by Take-Two subsidiary Rockstar Games, the crime-action title had been slated to ship for the Xbox 360 and PlayStation 3 in North America on October 16, 2007.
"Certain elements of development proved to be more time-intensive than expected, especially given the commitment for a simultaneous release on two very different platforms," said Take-Two chairman Strauss Zelnick in a statement.
Unsurprisingly, not having GTA IV in its 2007 fiscal-year lineup has put a serious dent in Take-Two's earnings expectations. The company's guidance is now for net revenue of $950 million to $1.0 billion for the 12 months ending October 31, and a loss of $1.25 to $1.35 per share. That figure is over $200 million lower than prior estimates of $1.2 billion to $1.25 billion in annual revenue--which would have been "break even results" according to the company's second-quarter earnings statement. With the AO-rated Manhunt 2 on indefinite hold, Take-Two now expects net revenue between $275 million to $300 million for its fourth fiscal quarter, with a net loss of $0.05 to $0.10 per share.
"Obviously, we are very disappointed to reduce guidance after having previously reaffirmed it," said Take-Two CEO Ben Feder. "Other than a matter of timing, the movement of Grand Theft Auto IV does not compromise Take-Two in any way. We are in sound financial condition and have a great product lineup."
suuuuure take-two....sure. Idiots. I knew it was too good to be true. Something from the 07 lineup was gonna get pushed
That's what happens when you try to simultaneously release cross-platform! You end up with a decent game with slight performance issues on both sides instead of a great game that runs as it should have in the first place. Expect a dumbed-down PS3 version and a choppy-framerate 360 version next holiday season, 2008. Take-two fails.
I forgot Unreal Tournament 3 (sorry for leaving that one out barney_calhoun_ ) and many other good games coming out this holiday season. The thing is that when you get yourself all hyped up on one game a then it dissappoints you the only person you have to blame is yourself for being so blind to all the other great games coming out this year. Think of it this way now we can put our support behind a new franchize like Haze, Heavenly Sword, Assassin's Creed, Mass Effect, or Drake's Fortune. By the way Jimminyfixit i'm not a psychiatrist i just play one on the message boards. And now you know an knowing is half the I forgot the rest of the line.
Now, am I the only person that thinks that if Halo 3 is set back I WILL DEFINITELY NOT BUY IT. I payed 5$ to pre-order it but wow, I just don't care, if it comes out more then 1 week late forget it. But that is highly unlikely because of the sweepstakes Microsoft is holding, the merchandise, etc. Microsoft wont let bungie mess up. And the good thing is, Halo 3 will be a "play for 4 years" game.. Halo 2 Was rushed, Halo 3 is perfect...
Paul733 what are you talking about? You have absolutely no clue. This announcement hurts SONY FAR FAR FAR more than Microsoft and the 360. With the judgment by many gaming mags and sites that Lair is mediocre and definitely NOT a AAA title, Sony has ZERO left to compete this holiday season. This announcement REALLY hurts Sony because they also lost MGS4 to early 2008. However, Microsoft still has the 8,0000 ton gorilla of the gaming market, Halo 3, coming, which will still be selling quite well into the holiday season. This is in addition to Ace Combat 6 which will still be an exclusive as of the Holiday season 2008. Another 360 exclusive, Bioshock, will also probably still sell ok during the Holidays despite coming out in August. GTA IV delayed to 2008 hurts the entire gaming industry, but it hurts Sony far more than it does Microsoft. Saying anything different is just not bothering to care about the facts.
thekey This is PS3's fault I'm willing to bet. LOL how come take two was saying the 360 was the problem a few months ago?
Ouch... anyways... I don't buy the ridiculous reason that they're not releasing it because they want to make more money... that just doesn't make any sense at all... i'm not a financial or marketing expert, but most studios RUSH to get a game released... every day that it's not released are potential sales lost... especially when you're missing the holiday season... but if you guys want to believe they're doing it to magically make more money, then go ahead and think that
whoa! that really shocked me. I was all set to play GTA this year. Well, whatever. Better be great though.
Too many 360 games this year as is. This is actually welcome news. Halo 3, Bio Shock, Orange Box, PGR 4, Mass Effect, CoD4, and maybe Huxley. That too much.
This news really shocked me... I'm disapointed, though I guess as long as the final game shall be good.
Was anyone surprised? Rockstar always sets some rediculous release day and then ends up releasing the game a year later every time they make a new one!
god what a bunch of BS its not about in game problems its just they want to make more money on a slow quarter... its BS plain and simple!
Why is everyone saying this is a 360 problem? Plain and simple this game looked the same way it did last Gen. This is the loop Nintendo was talking about. Graphical upgrades don't make for a better game. Look at Lair. A can almost guarantee it played the same way as last Gen's games too. Not that that's a problem for us. The problem with Sony (and to a lesser extent MS) this Gen is that they don't have the backing of the casual gamer..let me explain. The PS1 and PS2 were huge casual gaming machines. We know this because of declining game sales that everyone has been hearing about for the last couple of years. Sony created it's present situation. With the PS1 they offered something different. CGI ultimately destroyed Nintendo because the N64 couldn't do it nor could it play CD. For the most part if you take a look at it, the N64 was a hardcore gamers machine (look at the early games). The Gen after, Sony again used DVD as a Trojan horse to draw in "casuals." The PS2 was a cheap DVD player. It did something the Dreamcast couldn't do. It was different. Lack of support and Sega's rep killed that machine (God rest it's soul). Sony has been systematically appeasing the casuals for the last 10+ years. It has even been said (by fanboys even) the PS legacy will be "it made gaming mainstream." What did Sony offer "casuals" this time around? An even higher price and the same type of games and gameplay. R* doesn't want to release this game because in it's present state it will not sale as much as they want it to. They don't have the luxury of having millions of PSs out there, the causals are Wii'ing themselves to death, and the 4th quarter is already stacked to the neck. I believe they did the right thing because really the game probably was a minor upgrade. It would have gotten lost in the shuffle. To be honest, I don't think anyone wants to go up against Nintendo this holiday season. Not that their games are better, it's just that they go in media favorite similar to the PSs before it. Hears to hoping GTA can give you a true "Next Gen" experience when it's finished because so far they have been few and far between.
Paul 733 the only reason they didn't mention anything for the holidays is because THE PS3 HAS SUCKY EXCLUSIVE GAMES
mayuran_x it's the 360's fault because MS wanted an awesome game instead of a mediocre one? That sounds pretty DEE-DEE-DEE of you if you ask me.
First thing I thought when I saw this news : Microsoft got PWNED!! Remember how they were soooo proud of their "holiday release trio" at the microsoft press conference?? And that they will totally make the best $$$ ever? Well, in spite of this delay, they'll still do..... NOT ! Microsoft were soooo counting on GTA this holliday whereas sony barely mentioned gta in their press conference.
Man now the only thing I have to look forward to is Halo 3, Assassin's Creed , Mass Effect, Call of Duty 4, Heavenly Sword, Bio Shock, Rock Band, Drake's Fortune, Guitar Hero 3, Stranglehold, Mercenaries 2: World in Flames, Half Life 2 Orange Box and Ratchet & Clank Future: Tools of Destruction. WHAT EVER SHALL WE ALL PLAY THIS HOLIDAY SEASON?
Well, this is a disappointment. I was going to get a PS3 and buy it, because I have been saving up extra money from my summer job, and the money I got from mowing lawns etc. During the school year. I have a 360 but I thought why not get the Ps3 100$ less, instead of wasting all my money on a Iphone. I might save up for a Iphone when it's second version comes out, we all know it will have a second. I learned a leson after the X360 Elite, haha.
Well, good games take a good chunk of time to be fully created and polished perfectly. It will turn out to be a better game than expected if they just take their time.
Yeah, but Jimminyfixit, Microsoft paid $50 to Rockstar so that the 360 could get two downloadable-exclusive content packs in 2008. Waste of money? Who knows, but maybe Sony paid them like $100 million and they'll be getting the content too.
That's awesome. I made the difficult decision of cancelling my preorder today, but this is a bit relieving. One less game to worry about this fall. Take your time, boys.
Seriously, why does news like this always turn into a fanboy war? Who cares why it's delayed. It's not like knowing the cause of the delay will get us the game any sooner. I just don't get the point of this useless speculation.
It's the stupid XBox 360's fault. They never you to push back GTA games this far, when they use to released it only for PS2. They should just release it on PS3 and work on the XBox version.
NOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOO...lol...i guess we have to wait to take on teh mean streets of "Victory City" :cough: NYC :cough: in next gen until next year, sad but at elast i will only be half broke from all teh highly anticipated releases that will actually come out this fall/holiday season...
Bam11Bam... you need to see a doctor. It is not ps3 fault, rockstar decided to put GTAIV on ps3, ps3 didnt have anything to do, maybe you need to say "ps3 version Develpment fault" which you dont know if it is true
Shame, i wonder if this is because of the PS3 exclusives. Seems more than coincidence that they announce PS3 exclusives and then it is delayed. Maybe they are adding additional content. ------------------------------------------------------------------------ Speculation: So have they delayed one of the best games of the year due to the PS3's stupidly difficult to program CELL processor. ------------------------------------------------------------------------ However, it is a shame for both parties, but 360 owners dont have the luxury of knowing that we will be getting exclusive GTA games. P.S. This speculation is probably going to cause some sort of argument.....EXCELLENT!
you can take this news many ways. For one, they'll be able to add more content , tweak minor bugs. Two, too many big titles are coming out this year and Rockstar might have wanted to stay away from that. Three, not many games are released during the 1st/2nd quarter of the year. I think ever next-gen owner will be out there buying GTA4 to fill their empty time.
Yep the XBOX is delaying the game!! Sheesh people. No wait, the PS3 is holding it up because it is difficult to program for! Come on. Who cares. The fact is they are both holding up release because they insist on programming for two different consoles at once.
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