2K and WWE Announce Multi-Year Extension for WWE Video Game Properties
Sydney, Australia – January 29, 2016 – 2K and WWE® (NYSE: WWE) today announced that the companies have extended their partnership with a new multi-year exclusive agreement granting 2K the worldwide rights to develop and publish WWE video game properties across all major platforms and distribution channels. WWE® 2K, the simulation-based flagship series developed by 2K’s Visual Concepts studio and Yuke’s, will continue a successful 18-year tradition established by past WWE titles, including the recently released WWE® 2K16. In addition, 2K will continue to invest in WWE® SuperCard, the breakout hit card-battling game developed by its Cat Daddy Games studio, which has been downloaded more than nine million times since its initial release. Financial terms of the new agreement were not disclosed.
“2K’s partnership with WWE over the past three years has resulted in a successful and important addition to the Company’s portfolio of profitable franchises,” said David Ismailer, Chief Operating Officer for 2K. “We are thrilled with the positive momentum of the WWE 2K series, including generating year-over-year growth, as well as the success of WWE SuperCard. We are very pleased to extend our partnership with WWE and look forward to many more years of collaboration.”
“2K’s leadership in authenticity, quality and overall brand dedication has been a perfect complement for WWE,” said Casey Collins, WWE Executive Vice President, Consumer Products. “Our continued partnership ensures WWE remains at the forefront of global video game brands as we continue innovating and publishing our offerings on multiple platforms.”
WWE 2K16, the newest addition to the simulation-based WWE 2K franchise, released in October 2015 for the PlayStation®4 and PlayStation®3 computer entertainment systems, Xbox One and Xbox 360. Heavily praised for its annual growth by critics and consumers alike, WWE 2K16 delivers the most authentic, comprehensive and action-packed WWE video game experience to date, including the largest roster of WWE Superstars, Divas and Legends in WWE games history, the story-driven 2K Showcase based on WWE 2K16 cover Superstar Stone Cold Steve Austin® and significant additions to the game’s Creation Suite and online offerings, as well as a host of gameplay enhancements.
WWE SuperCard initially launched in August 2014, with multiple add-ons to date, and is available now for download free of charge on the App Store for iOS devices, including the iPhone®, iPad® and iPod touch®, as well as the Google Play Store for Android™ devices. Featuring more than 700 cards in active play, the game challenges players to build teams of WWE Superstars, Divas and Legends, train them to their full potential, battle in various match types and test their luck in fast-paced tournament action. In addition, players can enhance their free-to-play experience through purchase of individual card packs. WWE SuperCard has seen more than nine million downloads to date and currently holds an average rating of 4.5/5 stars on the App Store, as well as a 4/5 rating on Google Play.
2K is a wholly owned publishing label of Take-Two Interactive Software, Inc. (NASDAQ: TTWO).
All trademarks and copyrights contained herein are the property of their respective holders.
WWE, a publicly traded company (NYSE: WWE), is an integrated media organization and recognized leader in global entertainment. The company consists of a portfolio of businesses that create and deliver original content 52 weeks a year to a global audience. WWE is committed to family friendly entertainment on its television programming, pay-per-view, digital media and publishing platforms. WWE programming reaches more than 650 million homes worldwide in 25 languages. WWE Network, the first-ever 24/7 over-the-top premium network that includes live pay-per-views, scheduled programming and a massive video-on-demand library, is currently available in more than 175 countries. The company is headquartered in Stamford, Conn., with offices in New York, Los Angeles, London, Mexico City, Mumbai, Shanghai, Singapore, Dubai, Munich and Tokyo.
Trademarks: All WWE programming, talent names, images, likenesses, slogans, wrestling moves, trademarks, logos and copyrights are the exclusive property of WWE and its subsidiaries. All other trademarks, logos and copyrights are the property of their respective owners.
Forward-Looking Statements: This press release contains forward-looking statements pursuant to the safe harbor provisions of the Securities Litigation Reform Act of 1995, which are subject to various risks and uncertainties. These risks and uncertainties include, without limitation, risks relating to: WWE Network; major distribution agreements; our need to continue to develop creative and entertaining programs and events; the possibility of a decline in the popularity of our brand of sports entertainment; the continued importance of key performers and the services of Vincent K. McMahon; possible adverse changes in the regulatory atmosphere and related private sector initiatives; the highly competitive, rapidly changing and increasingly fragmented nature of the markets in which we operate and greater financial resources or marketplace presence of many of our competitors; uncertainties associated with international markets; our difficulty or inability to promote and conduct our live events and/or other businesses if we do not comply with applicable regulations; our dependence on our intellectual property rights, our need to protect those rights, and the risks of our infringement of others’ intellectual property rights; the complexity of our rights agreements across distribution mechanisms and geographical areas; potential substantial liability in the event of accidents or injuries occurring during our physically demanding events including, without limitation, claims relating to CTE; large public events as well as travel to and from such events; our feature film business; our expansion into new or complementary businesses and/or strategic investments; our computer systems and online operations; a possible decline in general economic conditions and disruption in financial markets; our accounts receivable; our revolving credit facility; litigation; our potential failure to meet market expectations for our financial performance, which could adversely affect our stock; Vincent K. McMahon exercises control over our affairs, and his interests may conflict with the holders of our Class A common stock; a substantial number of shares are eligible for sale by the McMahons and the sale, or the perception of possible sales, of those shares could lower our stock price; and the relatively small public “float” of our Class A common stock. In addition, our dividend is dependent on a number of factors, including, among other things, our liquidity and historical and projected cash flow, strategic plan (including alternative uses of capital), our financial results and condition, contractual and legal restrictions on the payment of dividends (including under our revolving credit facility), general economic and competitive conditions and such other factors as our Board of Directors may consider relevant. Forward-looking statements made by the Company speak only as of the date made and are subject to change without any obligation on the part of the Company to update or revise them. Undue reliance should not be placed on these statements. For more information about risks and uncertainties associated with the Company’s business, please refer to the “Management’s Discussion and Analysis of Financial Condition and Results of Operations” and “Risk Factors” sections of the Company’s SEC filings, including, but not limited to, our annual report on Form 10-K and quarterly reports on Form 10-Q.
About Take-Two Interactive Software
Headquartered in New York City, Take-Two Interactive Software, Inc. is a leading developer, publisher and marketer of interactive entertainment for consumers around the globe. The Company develops and publishes products through its two wholly-owned labels Rockstar Games and 2K. Our products are designed for console systems and personal computers, including smartphones and tablets, and are delivered through physical retail, digital download, online platforms and cloud streaming services. The Company’s common stock is publicly traded on NASDAQ under the symbol TTWO. For more corporate and product information please visit our website at http://www.take2games.com.
Founded in 2005, 2K develops and publishes interactive entertainment globally for console systems, handheld gaming systems and personal computers, including smartphones and tablets, which are delivered through physical retail, digital download, online platforms and cloud streaming services. 2K publishes titles in today’s most popular gaming genres, including shooters, action, role-playing, strategy, sports, casual, and family entertainment. The 2K label has some of the most talented development studios in the world today, including Firaxis Games, Visual Concepts, Hangar 13, Cat Daddy Games and 2K China. 2K’s stable of high quality titles includes the critically acclaimed BioShock®, Borderlands™, and XCOM® franchises, the beloved Sid Meier’s Civilization series, the innovative Evolve™, the popular WWE 2K franchise and NBA 2K, the #1 rated and #1 selling basketball franchise*. 2K is headquartered in Novato, California and is a wholly owned label of Take-Two Interactive Software, Inc. (NASDAQ: TTWO). For more information, please visit www.2k.com.
*According to 2008 – 2015 Metacritic.com and The NPD Group estimates of U.S. retail video game sales through December 2015.
Cautionary Note Regarding Forward-Looking Statements
The statements contained herein which are not historical facts are considered forward-looking statements under federal securities laws and may be identified by words such as “anticipates,” “believes,” “estimates,” “expects,” “intends,” “plans,” “potential,” “predicts,” “projects,” “seeks,” “will,” or words of similar meaning and include, but are not limited to, statements regarding the outlook for the Company’s future business and financial performance. Such forward-looking statements are based on the current beliefs of our management as well as assumptions made by and information currently available to them, which are subject to inherent uncertainties, risks and changes in circumstances that are difficult to predict. Actual outcomes and results may vary materially from these forward-looking statements based on a variety of risks and uncertainties including: our dependence on key management and product development personnel, our dependence on our Grand Theft Auto products and our ability to develop other hit titles, the timely release and significant market acceptance of our games, the ability to maintain acceptable pricing levels on our games, our ability to raise capital if needed and risks associated with international operations. Other important factors and information are contained in the Company’s Annual Report on Form 10-K for the fiscal year ended March 31, 2015, including the risks summarized in the section entitled “Risk Factors,” the Company’s Quarterly Report on Form 10-Q for the fiscal quarter ended September 30, 2015, and the Company’s other periodic filings with the SEC, which can be accessed at www.take2games.com. All forward-looking statements are qualified by these cautionary statements and apply only as of the date they are made. The Company undertakes no obligation to update any forward-looking statement, whether as a result of new information, future events or otherwise.