Feder: Move is "Wii HD"

Take-Two's chief executive Ben Feder has said his early-teen son was too embarrassed to have friends over to play on Nintendo's Wii console, and that he expected many people in a similar situation to graduate to Move or Kinect once they become available.

Speaking at a conference hosted by Kaufman Brothers in New York, Feder discussed Take-Two's future strategies and touched upon the company reaching profit in a non-Grand Theft Auto year for the first time in almost a decade, largely thanks to Red Dead Redemption.

"What Sony and Microsoft have really done with Kinect and Move, especially Move, is provide a bridge for guys that are used to playing the Wii system with the wand and bringing them over to a HD system," Feder told investors.

"The PS3 with Move, in my view, is the Wii HD system. I think maybe Mom isn't playing, but the kids are 'graduating,' and Microsoft and Sony have both provided a bridge to bring them over."

Feder claimed that Take-Two's console strategy was a focused approach on quality, AAA titles, telling investors that good games aren't enough to make money anymore, reports IGN.

"Our industry more than ever is driven by hit products, today, consumers are very careful with the way they spend their dollars. It's a worldwide challenging environment, and yet they still come out to spend for great entertainment as we've shown with the phenomenal success of Red Dead Redemption" said Feder.

"Good games don't make it anymore, in fact, good is the new bad. Games have to be great, and there's no company like Take-Two to make the best games in the industry."

Feder also highlighted the success of Take-Two's 18 fully-owned million-selling franchises, pointed out that 29 of the publisher's games have multi-million sales figures, and cited the 2011 releases of L.A. Noire, Spec Ops: The Line, XCOM, Top Spin 4 and Duke Nukem Forever as titles to watch in the future.

He would not be drawn on the date of a new GTA, however.

"Unfortunately, we've said everything we're going to say about Grand Theft Auto, I appreciate everyone's concern and interest as to when the game is coming out, we're not prepared to announce it today, but when we are, we'll let you know."