12/11/2013 02:27 pm ET Updated Dec 06, 2017

Grand Theft Auto V Builds Online Economy for Take-Two

GTA V brings a promising customer base with extensive in-app purchasing experience to Take-Two.

In analyses from its new report, "Take-Two Interactive - GTA V Launch," available now from CIRP, 95% of GTA V buyers also own at least one app game such as Angry Birds or Candy Crush Saga, and 32% own three or more of seven popular games (see chart).

Number of app games owned


A big question for Take-Two involves how well it's new online environment will do. Among GTA V buyers, 43% had registered for GTA Online, and these customers appear ready to spend money online. Almost two-thirds of all GTA V buyers have Angry Birds, and around half have Candy Crush Saga or Plants v. Zombies, all games that have significant in-app purchase opportunities.

The survey data also reveals that these GTA V buyers spend money in-app. 42% of GTA Online members had made an in-app purchase in a game in the past week, with 25% of GTA V buyers make in-app purchases at least once a week. Furthermore, over half spend between $1 and $3 on their most recent in-app purchase (see chart).

Amount spent on most recent in-app purchase

Based on these results, we estimate that GTA V buyers spend $13-14 per month on in-app purchases for their games for which they can make these purchases. GTA V also attracted many customers that had not bought GTA in some time, and new customers that never owned GTA before. Among GTA V buyers, 20% did not own GTA IV or its subsequent expansion packs, and another 11% did not own any games in the GTA franchise (see chart).

Most recent GTA game purchased

Take-Two launched it's last major edition, GTA IV, in 2008 and produced the version before that, GTA: Vice City, in 2006. So 20% of GTA V buyers had not purchased a game in the franchise for at least six years. Amazingly, over 10% of GTA V buyers had never purchased any GTA game before, adding nicely to the installed base.

CIRP bases its findings on its survey of 300 US GTA V buyers in the two weeks after the GTA V launch on September 17, 2013. CIRP provides securities research to the investment community using advanced market research strategies, methods, and analysis.

For further information, please contact CIRP.