Take-Two is set to increase its investment into the mobile space in the coming year, with eyes on bringing its 'core franchises' to mobile platforms.
That's according to company president Karl Slatoff, during Take-Two's Q3 2021 earnings call on Monday. Deutsche Bank analyst Bryan Kraft addressed the firm's movements in mobile, asking about its overall strategy and further plans to invest.
Slatoff assured that the mobile component of the business is growing in importance, alongside the company's acquisition of Social Point back in 2017, and Dots developer, Playdots, last year. He also mentions Take-Two's plans to bring established franchises to mobile.
"Our strategy boils down to a few components and the first really is focuses around new -- creating new IP for the mobile space, and that's around our Social Point and Playdots business," Slatoff said.
"The second component is bringing our core franchises to the mobile platforms. So, these are games that are more or fewer ports so they could be slight variations of games, existing content that exists.
"And then the third component is really just bringing our core is integrating a mobile experience with our core experiences. So these are things like companion apps, which we've done effectively with Red Dead Redemption, we've done with Mafias, we've done it with a number of our franchises where you can have a separate mobile experience that you can use and it can be used to enhance your core experience pretty much at the same time or may be offline when you're not in front of your television set or your console."
Take-Two is also the parent company of Cat Daddy Games, an acquisition made way back in 2003. While the deal pre-dates the developer's foray into mobile development, the success of its WWE and NBA mobile titles has aided Take-Two's standing in the mobile space.
Take-Two also reported a positive overall outlook for 2021, disclosing a fiscal third-quarter net income of $182.2 million, an increase from $163.6 million one year ago. Of course, the company's driving forces are franchises such as Grand Theft Auto and Red Dead Redemption, two titles that thrive online and continue to generate revenue.
Last year, the company also sought to acquire racing specialists Codemasters, but was outbid by EA. During the earnings call, Take-Two chief exec Strauss Zelnick expressed disappointment, but added that it "reflects our discipline in such matters".
While its main earners lie across other platforms, the overall growth of the mobile space paired with Take-Two's commitment to expanding mobile-first titles could make for some interesting developments in the coming year.
"We're very tapped into it and we're investing more and more," Slatoff added.