Grand Theft Auto 5 Hits $1 Billion In Sales In Three Days

GTA Five

After only three days on the street, the fifth generation version of Grand Theft Auto has garnered a staggering amount of sales:

(Reuters) – Grand Theft Auto V has crossed the $1 billion sales mark after three days in stores, a rate faster than any other video game, film or other entertainment product has ever managed, its creator Take Two Interactive Inc said on Friday.

The latest installment of GTA, a cultural phenomenon that has sparked a national debate on adult content and violence, received strong reviews and racked up $800 million in first-day sales alone.

That marked a launch-day record for the Grand Theft Auto franchise which is Take Two’s most lucrative and allows players to cruise around a make-believe gameworld based on real-life locations such as Los Angeles.

Take-Two shares were little changed at $17.48 in early afternoon-trading on the Nasdaq.

Gamers had eagerly awaited the fifth installment of the 16-year-old game after Grand Theft Auto IV was released in 2008.

It took more than five years to be developed by Take-Two’s Rockstar Games studio at a cost of between $200 million and $250 million, according to some analysts’ estimates.

Last year, it took Activision Blizzard Inc’s first-person shooter title “Call Of Duty: Black Ops II” 15 days to hit $1 billion in global sales after its November release. That game took in sales of $500 million on its first day.

Obviously, the game is unlikely to sustain this kind of sales momentum for a long period of time, but this seems to be a pretty clear indication of just how popular these types of games are, especially considering a “blockbuster” Hollywood release typically earns about 1/4 this amount over a similar period of time.

FILED UNDER: Economics and Business, Quick Takes
Doug Mataconis
About Doug Mataconis
Doug holds a B.A. in Political Science from Rutgers University and J.D. from George Mason University School of Law. He joined the staff of OTB in May 2010. Before joining OTB, he wrote at Below The BeltwayThe Liberty Papers, and United Liberty Follow Doug on Twitter | Facebook

Comments

  1. rjs says:

    watch for a big jump in mortgage delinquencies…