A clip from the Wall Street Journal's tech conference is making the rounds on the internet, showing a journalist questioning whether the company behind Grand Theft Auto VI has enough hits. The real exchange is more interesting than the meme though. Strauss Zelnick, the newly re-elected CEO of Take-Two Interactive, was pressed on whether his company relies too much on a single game, then answered with a roll call of the catalog.
The exchange came after the interviewer noted that Take-Two's stock sits more than 20% below the record high it reached earlier, despite the GTA VI hype. "I think there is a concern that this is your big hit and that you don't have enough hits in your library," the interviewer said, asking Zelnick how he would "knock that down."
Zelnick did not flinch although he certainly couldn't help but react to the question. Speaking at WSJ Tech: California in Napa Valley on November 4, he opened with the headline number. "We have 15 franchises that have each sold at least 5 million" he said, calling it "the best collection of owned intellectual property in the video game business." His advice to anyone worried was blunt, "examine the facts."
From there, the list ran long. Beyond Rockstar Games' GTA, Zelnick pointed to Red Dead Redemption, "a massive title" he said has "sold over 65 million," along with Red Dead Online and Grand Theft Auto Online. He named NBA 2K, which he called the second biggest sports title worldwide and the biggest in North America, then WWE 2K, BioShock, Borderlands and Civilization. On mobile, he reeled off Words With Friends, Empires & Puzzles and Good Poker, before adding "hundreds of other titles." His verdict, "it's a pretty good story."
The answer fits a line Zelnick has held for years. Moments earlier in the same talk he had declined to argue with the market, saying he would rather deliver on fundamentals than debate the share price. He has made versions of the point before, teasing GTA VI as worth the wait and promising a polished, boundary-pushing game. He described development as expensive and slow, the trade-off for a game Take-Two has reportedly spent more on than any film ever made.
Take-Two's franchise roll call, as Zelnick laid it out
Franchise | Label | What Zelnick said |
|---|---|---|
Grand Theft Auto | Rockstar Games | The franchise GTA 6 extends |
Red Dead Redemption | Rockstar Games | "A massive title," "sold over 65 million" |
NBA 2K | 2K | "Second biggest sports title worldwide," biggest in North America |
WWE 2K | 2K | Named among the owned franchises |
BioShock | 2K | Named among the owned franchises |
Borderlands | 2K | Named among the owned franchises |
Civilization | 2K | Named among the owned franchises |
Words With Friends | Zynga | Named on the mobile side |
Empires & Puzzles | Zynga | Named on the mobile side |
Good Poker | Zynga | Named on the mobile side |
Strauss Zelnick answered the "one big hit" worry with 15 franchises and a catalog roll call.
None of this is new from Zelnick. He has used stages like this before to talk up GTA VI, AI and the business. The company itself sits so close to him that WWE 2K26 added him as a playable character as a joke. The worry is understandable given the enduring success of GTA, with Grand Theft Auto V still selling millions years on.
The meme version of this clip that's going around is funnier than the truth, but the truth is the better story. A journalist raised a real market concern and Take-Two's boss answered with a catalog most publishers would envy.
Whether 15 franchises is enough to calm a nervous market is a question for investors, but for a company supposedly betting everything on the next Rockstar title, they sure have a lot else going on.