“Grand Theft Auto” fans must be mad enough to steal.
After making gamers wait five years for the latest installment of the violent and wildly popular title, Take-Two Interactive yesterday pushed back the launch of “Grand Theft Auto V” until Sept. 17. The company had originally planned on a spring release.
Take Two is notorious for long development times and frequent delays. Another long-awaited sequel, “BioShock 2,” received the same stalled treatment.
Further complicating the launch is the fact that it will come at a time when the major console makers Sony and Microsoft release new gaming devices that won’t be compatible with the new “Grand Theft Auto,” according to analysts. Yesterday, Sony announced an event for New York on Feb. 20, suggesting its PlayStation 4 was about to be revealed.
Rockstar Games, the Take Two-owned studio behind the GTA franchise, apologized for the delay.
“We know this is about four months later than originally planned and we know that this short delay will come as a disappointment to many of you, but, trust us, it will be worth the extra time,” Rockstar wrote in a blog posting.
Investors, however, were in no mood for an apology. Take Two fell nearly 7 percent to $12.17 on news of the delay.
Take Two’s penchant for blowing deadlines is wearing thin. In October, the company cut its full-year outlook, citing changes to its release schedule. It is due to report quarterly results on Feb. 5.
Yesterday, Take Two vowed that the game would be well worth the wait, calling it “the deepest, most beautiful and most immersive world yet” in the series. The latest iteration takes places in Los Santos, a fictionalized fading version of Hollywood where three criminals “plot their own chances of survival and success.”
“The Rockstar guys are perfectionists, and they have some features they want to put into the game to make it better,” said analyst Michael Pachter of Wedbush Securities.
Pachter said the sales delay could hurt GTA if Microsoft’s Xbox and Sony’s Playstation launch new consoles for the holidays.
“I don’t think that a delay will meaningfully impact sales, although launching right before next-generation consoles come out is probably not a great idea,” Pachter said.
Take Two said the GTA franchise has sold 125 million units in its history. Activision’s “Call of Duty” is the top-selling franchise. The “Black Ops” version sold 25 million units alone, making that the No. 1 game.
“I’m not sure that [‘Grand Theft Auto V’] will sell 25 million units,” Pachter said. “It will sell a lot, but in order to sell that many, the game has to have legs.”