Strauss Zelnick
Chairman and Chief Executive Officer at Take-Two Interactive Software
Thanks, Nicole. Good afternoon, and thank you for joining us today. I'm pleased to report that we delivered another consecutive quarter of solid results, with net bookings of $1.5 billion. We experienced healthy player engagement, driven by exciting new game releases, post-launch content updates, and bold beats for many of our mobile offerings, even as consumers continue to navigate the effects of various macroeconomic and geopolitical factors.
We made excellent progress with our integration of Zynga, and we remain highly optimistic about the vast long-term growth potential for the mobile industry, which is expected to reach over $160 billion in gross bookings within the next four years. Some of our key achievements in the period include, we successfully reached our 100-Day integration milestone at the end of August. Zynga's President Frank Gibeau and his leadership team have evaluated our mobile portfolio, including existing games and titles in development, and they have identified numerous opportunities to enhance our performance. These initiatives include reorganizing several teams, sharing development tools, resources and best practices across our mobile studios, conceptualizing new bold beats and leveraging Zynga's highly valuable publishing platform, which is now even stronger following the recent acquisition of Storemaven. We're also starting to expand our direct-to-consumer efforts more meaningfully across our mobile portfolio further to enhance profitability.
We remain committed to delivering $500 million of annual net bookings opportunities over time. The Zynga team has been working with our other labels to explore potential creative projects. As part of this process, we have identified certain underrepresented genres in our mobile portfolio that we believe we can pursue more aggressively over time. Our efforts to deliver cost synergies are tracking extremely well, and we're now confident that we can achieve over $100 million of annual savings within the first two years post-close. I'd like to thank Frank, his leadership team and all of our new colleagues at Zynga once again for helping to make our combination happen so seamlessly. We're thrilled to have Zynga as part of our Take-Two family.
Turning to our second quarter results, our net bookings performance was within our guidance range, led by Grand Theft Auto V, which exceeded our expectations and to date, has sold in more than 170 million units worldwide. Starting July 26th, Grand Theft Auto Online launched its latest major update, the Criminal Enterprises, introducing expanded game-play across the criminal careers of executives, bikers, nightclub owners and gun runners, as well as the opportunity to work with Federal agents to uncover a criminal conspiracy in the new Operation Paper Trail Series of Contact Missions.
The update also featured a range of new vehicles and more, including the new community series, showcasing some of the most fun and unique experiences created by players across the globe. This major update also delivered a host of overall improvements to the gameplay experience, including increased payouts across a wide array of activities and several other player-requested features. The Criminal Enterprises was very well received and we've seen millions of players engaging with significant new features, such as the ability to run Sell Missions in private lobbies, new weapon wheel controls and more. In addition, Rockstar Games GTA Plus subscription service continues to grow its members, who enjoy a rotation of numerous exclusive in-game benefits, including vehicles, upgrades and gear every month.
On September 9th, 2K and Visual Concepts successfully launched NBA 2K23, with the title earning an 80 plus Metacritic rating at launch, hence receiving praise for raising the bar on the top-selling sports title in the US. Today, NBA 2K23 has sold-in nearly five million units, alongside significant growth in virtual currency sales and a higher average selling price compared to NBA 2K22.
Player engagement has been very strong, with more than two million daily active users and 4% growth in average days played. We believe that NBA 2K23 will continue to grow its audience as the title provides a year-round experience for its fervent community of players throughout the world. I'd like to congratulate the teams of 2K and Visual Concepts for once again delivering such a stellar basketball experience.
The franchise's momentum extends beyond the core console experience, with NBA 2K22 Arcade Edition for Apple Arcade, remaining the number-one game on the platform and our recent launch of NBA 2K23 Arcade Edition offering many new features and improvements. Furthermore, NBA 2K Online in China continues to be the number one PC online sports game in the country, with nearly 59 million registered users.
Red Dead Redemption Two is continuing to impress, with sell-in of more than 46 million units worldwide to date and more active players in this second quarter than we've seen for the comparable period in previous years. 2K supported WWE 2K22 and Tiny Tina's Wonderlands, the final downloadable content packs for each title, which were made available individually and as part of the game's season passes.
During the quarter, recurrent consumer spending rose 76% and accounted for 80% of net bookings. Zynga continues to experience strong engagement among its active players and we believe that we are maintaining our market-share globally. Our mobile business delivered mid-teens growth in advertising bookings on a year-over-year basis, outperforming the broader industry. At the same time, in-app purchases continue to be under some pressure due to current macroeconomic conditions. Some key highlights of our mobile offerings during the quarter include, the Rollic business remained very strong and exceeded our plan. Notably, Rollic surpassed two billion lifetime downloads worldwide and has now launched 19 titles that have reached the number-one -- number two most downloaded games position in the US App Store.
Several of Zynga's titles celebrated milestones, including the second anniversary of Harry Potter: Puzzles and Spells, the 10th anniversary of FarmVille and the 15th anniversary of Zynga Poker. Each of these anniversaries was supported with an array of in-game events and unique content offerings. Zynga unveiled several high-profile brand integrations, including Social Point's partnership with AMC Networks, the Walking Dead and Dragon City and Monster Legends. CSR2's debut of Pagani's new multimillion-dollar Utopia hypercar and Game of Thrones Slots Casino launched a new in-game event, Week of the Dragon in conjunction with HBO's new hit fantasy series, House of the Dragon.
Turning to our outlook, we now expect to deliver net bookings of $5.4 billion to $5.5 billion in fiscal 2023. Our reduced forecast reflects shifts in our pipeline, fluctuations in FX rates and a more cautious view of the current macroeconomic backdrop, particularly in mobile. Lainie will provide more detail on our outlook shortly. Despite these headwinds and their effect on our guidance for the year, we remain highly confident in our diverse and extensive development pipeline that we expect will deliver us sequential growth and record performance over the next several years.
Take-Two has a proven strategy and consistent track record of success, driven by our core tenants. We aspire to be the most creative, the most innovative and the most efficient entertainment Company in the world. As we strive to capitalize on the numerous opportunities ahead of us, we're committed to creating significant long-term value for our shareholders.
I'll now turn the call over to, Karl.