Take-Two Interactive 4Q21 Quarterly Results Management Prepared Remarks

Take-Two Interactive achieved record-breaking financial performance during fiscal year 2021, characterized by $3.55 billion in net bookings, representing a 19% year-over-year increase. This growth was primarily fueled by sustained engagement in core franchises, most notably Grand Theft Auto and NBA 2K. Recurrent consumer spending reached an all-time high, accounting for 63% of total net bookings, underscoring the effectiveness of the company’s digital-first strategy and its ability to monetize long-term player bases. To support this momentum, the organization significantly expanded its creative capacity by hiring over 700 developers, positioning itself for an aggressive multi-year release schedule.

Looking toward the future, the company anticipates a period of normalization in fiscal 2022, with projected net bookings between $3.2 billion and $3.3 billion. While management expects a short-term decline in net bookings and recurrent consumer spending compared to the pandemic-driven peaks of the prior year, the long-term outlook remains optimistic. This confidence is anchored by a robust development pipeline, which includes 21 planned releases for fiscal 2022 and a broader strategy to launch over 60 titles in the coming years.

The company’s strategic focus remains centered on scaling its creative infrastructure and leveraging its intellectual property to drive sustainable growth. By prioritizing significant investments in personnel and marketing, Take-Two aims to capitalize on its extensive portfolio of over 40 titles slated for release across fiscal 2023 and 2024. These efforts are intended to facilitate long-term margin expansion and solidify the company’s competitive position within the global interactive entertainment industry.