How much of Take-Two's revenue comes from in-game spending?
No. At Take-Two, the publisher of GTA, in-game spending across all its games made up 78.1% of net revenue in fiscal 2026, the year to March 31, 2026, up from 25.8% in fiscal 2017, according to its 10-K filings.
The older model ran on hits. In fiscal 2014, the year Grand Theft Auto V came out, Take-Two's net revenue nearly doubled to $2.35 billion. In fiscal 2015 it fell 54% to $1.08 billion, and operating income swung from $415.3 million to a $258.5 million loss.
Take-Two calls the newer stream recurrent consumer spending: virtual currency, add-on content, in-game purchases and, in later filings, in-game advertising. The share jumped again in fiscal 2023, the first year that includes Zynga, acquired in May 2022.
At Electronic Arts the picture is similar for fiscal 2026: live services and other brought in $5.38 billion, 71% of net revenue, against $2.15 billion from full games. EA was taken private on August 4, 2026, at $210 a share in cash.
Recurring revenue is not guaranteed profit. Take-Two posted operating losses in each of fiscal 2023 to 2026, including goodwill impairments of $2.34 billion in fiscal 2024 and $3.55 billion in fiscal 2025. Sony's Concord was taken offline about two weeks after its August 2024 launch, news outlets reported, and in January 2025 Genshin Impact's developer agreed to pay $20 million to settle FTC charges over loot boxes. Figures are as of fiscal 2026.
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Sources
- Take-Two Interactive 10-K, fiscal 2026
- Take-Two Interactive 10-K, fiscal 2024
- Take-Two Interactive 10-K, fiscal 2019
- SEC XBRL financial data, Take-Two Interactive
- Electronic Arts 10-K, fiscal 2026
- Electronic Arts 8-K, August 4, 2026
- US Federal Trade Commission, January 17, 2025
- Video Games Chronicle, Concord taken offline, September 2024