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Grand Theft Auto IV shatters sales records

Writer: Christina Hansen
News, Published online on 07 May 2008

Grand Theft Auto IV has shattered even the most optimistic media watchers’ forecasts by raking in more than $500 million in its first week of sales alone, Reuters reports.

GTA IV was released April 29, and sold over 6 million copies in its first week on the shelves. The game’s sales shattered the previous record for opening week video game sales, previously held by the Microsoft Corp.’s Halo 3 which garnered roughly $300 million when it was released last year. The wildly popular (and controversial) Grand Theft Auto series is made by the Rockstar Games studio, which is owned by Take-Two Interactive Software Inc.

GTA IV’s unprecedented sales have put the game on the same playing field with Hollywood blockbusters and high-profile music releases, a feat many critics thought a video game could never achieve. "Grand Theft Auto IV's first week performance represents the largest launch in the history of interactive entertainment,” said Take-Two chairman Steve Zelnick in a statement. “And we believe these retail sales levels surpass any movie or music launch to date.”

The game’s astronomical sales figures are likely to affect Electronic Arts Inc.’s ongoing effort to buy Take Two. Electronic Arts originally bid $2 billion, or $25.74 a share, but Take Two deferred until GTA IV sales figures came in. Many analysts believe that Take Two will now have the leverage to demand a higher price.

Sales of GTA IV are unlikely to cool off anytime soon. The game has received stellar reviews from critics and consumers, who raved about its storyline and the intricate detail of the game’s quasi-fictional Liberty City. Daniel Ernst, an analyst from Hudson Square Research, told Reuters the game would likely sell 13 million copies by the end of the year.

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Grand Theft Auto IV shatters sales records

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