“Our vision for mobile is to be the largest mobile gaming company in the world, based on market share,” Alan Lewis, a company spokesman, said in an email. That includes a Star Wars smartphone game that’s been delayed at least three times. And just two new releases are on the calendar for the next 12 months, according to Take-Two's latest earnings report. After putting out an average of seven games a year over the last decade, the company released just three titles in 2023. Zynga’s pipeline offers little encouragement. Based on Take-Two’s own estimates, Zynga will finish this fiscal year with sales down about 5% from 2021. It’s part of a broad decline in the $90.4 billion mobile-games market that began in 2021 and is expected to let up starting next year, according to researcher NewZoo. Since the spring of 2022, sales from Zynga’s five highest-grossing games have fallen 23%, according to researcher SensorTower. “They closed the deal, and the mobile industry spent the next 18 months correcting,” said Doug Creutz, an analyst at Cowen Group who nonetheless recommends buying Take-Two shares because of its other titles, including prospects for GTA VI.

built new privacy features into its software that made it harder for Zynga to attract new players.

With the end of Covid-19 restrictions, consumers who had embraced casual games during the pandemic turned to other diversions. Unfortunately for Take-Two and longtime Chief Executive Officer Strauss Zelnick, the deal closed just as the mobile-games business was heading into a downturn. It was the biggest deal ever in video games and boosted revenue from mobile titles to half of Take-Two’s $5.3 billion in annual sales. With just a small presence in the fastest-growing segment of video games - titles played on smartphones - Take-Two splurged last year on Zynga, known originally for Facebook games like FarmVille and Words With Friends. Tencent Leads $80 Billion Rout as China Rekindles Crackdown Fear Giuliani Files for Bankruptcy After $148 Million Defamation Loss Vilified Zero-Day Options Blamed by Traders for S&P Decline Harvard Financial Pain Grows as Blavatnik Joins Donor Revolt Hyperloop One to Shut Down After Failing to Reinvent Transit deflect investor attention from a big problem: its $12 billion foray into the shrinking mobile-games business. (Bloomberg) - Excitement over the upcoming release of Grand Theft Auto VI is letting publisher Take-Two Interactive Software Inc.

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