Grand Theft Auto net revenues drop to pre-pandemic levels

Total Grand Theft Auto franchise revenues fall 26% as the games industry downwardly adjusts to pre-pandemic levels of earnings.

Published Aug 10, 2022 12:46 PM CDT   |   Updated Thu, Sep 1 2022 4:58 PM CDT
1 minute & 2 seconds read time

Grand Theft Auto franchise revenues have dropped to pre-pandemic levels as the industry adjusts for an inflation market.

Grand Theft Auto net revenues drop to pre-pandemic levels 1 | TweakTown.com

The games industry is starting to stabilize after record earnings during the pandemic. Major franchises like Grand Theft Auto are making less money as consumers face rising costs of living, and major platform-holders like Sony, Nintendo, Capcom, and Konami saw losses from unfavorable foreign exchange rates.

All the biggest players are getting hit, including Grand Theft Auto. While GTA V has sold nearly 170 million copies worldwide and now accounts for 44% of total GTA game sales, total series earnings dropped to pre-pandemic levels in the latest quarter. Take-Two's Q1'23 earnings show GTA revenues made $202 million, down 26% year-over-year.

Grand Theft Auto net revenues drop to pre-pandemic levels 2 | TweakTown.com

GTA made 18.3% of Take-Two's total net revenues during the period, or about $202 million, the lowest point in 10 consecutive quarters. This isn't the complete picture of GTA earnings though.

It's important to note these values are based on net revenues instead of net bookings. The difference is net bookings are total earnings recognized during the period. Net revenues are earnings minus deferred income. Every quarter, Take-Two and other companies defer earnings from live service games across periods of time to be recognized later.

In short, net revenues may not be a complete and adequate representation of earnings throughout the period, especially for a game like GTA V with its popular monetized GTA Online mode.

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Derek joined the TweakTown team in 2015 and has since reviewed and played 1000s of hours of new games. Derek is absorbed with the intersection of technology and gaming, and is always looking forward to new advancements. With over six years in games journalism under his belt, Derek aims to further engage the gaming sector while taking a peek under the tech that powers it. He hopes to one day explore the stars in No Man's Sky with the magic of VR.

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