Zelnick: videogames show "recession resistance"
Take-Two boss explains E3 absence and hopes for consumer economy
Consumers will continue to look to videogames as one of the best value for money forms of entertainment during the global recession, according to new comments by Take-Two Interactive chairman Strauss Zelnick.
"We've seen some recession resistance," said Zelnick, as quoted by the Reuters news agency.
"We'd all be happier if the consumer economy were more robust," he added from E3. "That said, we are pretty well-positioned, even if the consumer economy continues to be troubled."
"The financial markets are turning around, but it's not clear that the consumer economy is turning," said Zelnick. "The consumer is not going to show up for another 9-10 months minimally, because we are still seeing meaningful unemployment rolls."
Zelnick also addressed Take-Two's low-key attendance of E3, where the publisher does not have a main stand. Despite praising the larger scale of the expo, Zelnick stated: "Frankly, it's expensive. You can spend a lot of money on one of these shows. We'd rather put the money into the games."
Please register or log in to Gamesindustry International below to read and submit comments.