Wednesday, May 7, 2008

TTWO - GTA4 tops $500 million in first week sales

That's what I've been talking about for months when you could still buy TTWO at 13.

"Grand Theft Auto" first week sales top $500 million.

The price held steady because people already expected this to be huge, but I don't think anyone expected this to be that huge. The previous record for an entertainment release was Pirates of the Carribean which brought in around $400 million. That beats the previous record by 25%. I don't think the entertainment industry has figured this stuff out yet, but gaming is huge. Looking at the $2 billion dollar offer from EA to buy TTWO last month I start to wonder what people would think of a $2 billion dollar offer for Universal Pictures? I know they are much more diversified than TTWO or EA, but do the math and it doesn't take long to figure out that TTWO is going to be worth a lot more than it currently is.

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