Red Dead Redemption 2 is out – and it’s already being heralded as one of this era’s best ever video games
Red Dead Redemption came out at the end of last week, and it’s met with critical acclaim. Take-Two Interactive’s latest title (long awaited, after an eight-year development) has long been touted as a candidate for the biggest video game release of the year. However, that appears to be an understatement: critics and gamers alike have rushed online to offer unconditional praise for the game, and that’s got analysts’ revising sales’ expectations accordingly.
Take-Two Interactive’s share price has appreciated by 9% so far this year
Source: Yahoo Finance
Critics at UK newspaper The Guardian called Red Dead Redemption 2 “one of the greatest games of the modern age”. Business Insider described it as “the biggest game of the year” which “everyone should play”. The Telegraph called it a “near perfect” video game. It also received flawless ratings from industry publications like IGN and Games Radar. Unsurprisingly, analysts are betting that this hyped up reception will lead to more sales.
Piper Jaffray has updated its forecast for the game, and now expects it to sell between six and eight million units on its first weekend. That could bring in as much as $400 million to $500 million, and would set it on track to shift 18 million to 20 million copies over 2019. That’s a massive increase from Piper Jaffray’s initial 2019 sales outlook of 15.5 million copies.
One interesting point to note is that Piper Jaffray’s analysis places significant weight on expert Metacritic reviews – and Red Dead Redemption is on par to match Take-Two’s biggest blockbuster ever, Grand Theft Auto 5 (GTA5), when it comes to critical reception. How close this game can come to GTA5 in terms of sales remains to be seen – but given the latter’s position as one of the best-selling video games ever released, it’s a promising sign.
Dominion holds Take-Two Interactive in its Global Trends Luxury Fund.
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