Take-Two: "Being slightly down is the new up"

Posted Dec 4, 2008 at 5:10PM EST by Glenn M.

Listed in: PS3, Wii, PSP, Xbox 360, Nintendo DS Tags: Black Friday, Microsoft, Shane Kim, Take-Two Interactive

The gaming industry got a much-needed morale boost last Black Friday, with sales picking up, particularly for Microsoft and the Xbox 360. This, however, is no guarantee that gaming is out of the woods, and publishers shouldn't rest on their laurels, expecting strong sales during the holidays.

"Healthy sales on Black Friday are no indicator that the industry will be able to sustain the sales momentum through December," says Take-Two Interactive's Chief exec, Strauss Zelnick. "I think everyone was encouraged by Black Friday," he said. "It was better than expectations, but it's pretty hard these days - being slightly down is the new up." Right now, Zelnick reckons "everyone's cautiously optimistic" at best.

Microsoft VP of strategy and business development for interactive entertainment business, Shane Kim, agrees. Despite the Xbox 360's record-breaking performance on Black Saturday, he remains "cautiously optimistic" for the rest of the holidays.

Things are so bad right now that even top execs are willing to settle for "slightly down" rather than experience the full blast of the economic warpath. Well, it's true - "slightly down" is much better than "stocks drop" or "closing operations."

Here's why it's better to be slightly down:

Midway may be in for fatality: stocks fall 40%

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Take-Two: "Being slightly down is the new up"

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