The President of Take-Two Karl Slatoff, spoke about some insights of how the company is handling the release of the Sony PlayStation 4 and Microsoft Xbox One, which caused a transition in the gaming industry at the BMO Capital Markets Technology and Design Media Conference.
Both the next gen consoles have had successful launches with the PS4 outpacing the Xbox One by a small margin. The PlayStation 4 outsold the Xbox One in UK alone by 90,000 consoles and it became the fastest selling console in European history.
Game developers have expanded their developing teams and increased their budgets now that they have to be developing games for 2 additional consoles. And they increase will remain until they decide it’s not worth developing games for the current gen consoles anymore.
Slatoff stated that the transition between the two generations of gaming wasn’t a big one, as the current gen consoles were already running in high definition mode. The game prices have not gone up however which has a little impact on the gaming companies, as they have more workers at their own expense.
The transition should not have much of an impact on big gaming companies as they are selling more video games than ever, example: NBA 2k14 is the best-selling game in the series thanks in part to the release of next gen consoles.