Strauss Zelnick, who is the chief executive officer at Take Two, has revealed that the financial problems that his company has had in the past year were linked to delays which meant that high-profile video games could not be launched on time.
Speaking to a group of investors, the executive stated, “This was primarily due to our decision to postpone the release of several titles in order to allow for additional development time.”
He added, “Although our commitment to quality may occasionally affect near-term results, we believe it’s the right approach for maximizing revenue and profits over the long-term.”
Recent delays for Take Two include the XCOM-based shooter from 2K Australia, which currently lacks a launch date, and BioShock: Infinite from Irrational Games, which was supposed to appear during the fall and will be offered in 2013.
The publisher was also affected by the fact that Grand Theft Auto V, the open-world game from Rockstar, currently lacks a launch date.