Yesterday we reported on an SEC filing that pointed to drastically increased spending (more than double) for Take-Two during fiscal year 2024 (year period ending March 31, 2024). Analysts estimate that the massive marketing spend was related to the planned release of one of Take-Two?s biggest tentpole franchises: Grand Theft Auto VI. The publisher, however, is now denying these reports, saying that its FY2024 budget estimates?and more broadly, the SEC filing for five years worth of estimates?are for third-party obligations unrelated to Grand Theft Auto VI or any first-party marketing budgets within the company. That would include anything from Rockstar, which is owned by Take-Two.
In an update from VentureBeat?s Jeff Grubb, he said that Take-Two reached out to correct the previous report:
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