{
  "url": "https://struct.news/briefs/take-twos-platform-giants-wear-three-hats",
  "title": "Take-Two’s Platform Giants Wear Three Hats",
  "summary": "Sony and Microsoft appear in Take-Two’s filing as customers, platform manufacturers, partners, and competitors. The company’s five largest customers generated 80.6% of net revenue.",
  "published_at": "2026-08-04T23:48:31.708681+00:00",
  "publisher": "Struct",
  "usage": "Figures are as reported by the company. Quote with attribution to the source filing.",
  "company": {
    "name": "Take-Two Interactive Software,",
    "ticker": "TTWO",
    "cik": null,
    "sector": "Communication Services",
    "industry": null
  },
  "source_filing": null,
  "comparison_filing": null,
  "reported_figures": [
    {
      "group": "Take-Two’s disclosed relationship map",
      "label": "SONY",
      "value": "SONY",
      "display": "SONY",
      "unit": "ticker",
      "period": null,
      "detail": null,
      "source": {
        "kind": "jodie_evidence",
        "label": "Named in SEC filings",
        "as_of": "2026-08-04"
      }
    },
    {
      "group": "Take-Two’s disclosed relationship map",
      "label": "MSFT",
      "value": "MSFT",
      "display": "MSFT",
      "unit": "ticker",
      "period": null,
      "detail": null,
      "source": {
        "kind": "jodie_evidence",
        "label": "Named in SEC filings",
        "as_of": "2026-08-04"
      }
    },
    {
      "group": "Take-Two’s disclosed relationship map",
      "label": "AAPL",
      "value": "AAPL",
      "display": "AAPL",
      "unit": "ticker",
      "period": null,
      "detail": null,
      "source": {
        "kind": "jodie_evidence",
        "label": "Named in SEC filings",
        "as_of": "2026-08-04"
      }
    },
    {
      "group": "Take-Two’s disclosed relationship map",
      "label": "SONY",
      "value": "SONY",
      "display": "SONY",
      "unit": "ticker",
      "period": null,
      "detail": null,
      "source": {
        "kind": "jodie_evidence",
        "label": "Named in SEC filings",
        "as_of": "2026-08-04"
      }
    },
    {
      "group": "Take-Two’s disclosed relationship map",
      "label": "TME",
      "value": "TME",
      "display": "TME",
      "unit": "ticker",
      "period": null,
      "detail": null,
      "source": {
        "kind": "jodie_evidence",
        "label": "Named in SEC filings",
        "as_of": "2026-08-04"
      }
    },
    {
      "group": "Take-Two’s disclosed relationship map",
      "label": "SONY",
      "value": "SONY",
      "display": "SONY",
      "unit": "ticker",
      "period": null,
      "detail": null,
      "source": {
        "kind": "jodie_evidence",
        "label": "Named in SEC filings",
        "as_of": "2026-08-04"
      }
    },
    {
      "group": "Take-Two’s disclosed relationship map",
      "label": "JPM",
      "value": "JPM",
      "display": "JPM",
      "unit": "ticker",
      "period": null,
      "detail": null,
      "source": {
        "kind": "jodie_evidence",
        "label": "Named in SEC filings",
        "as_of": "2026-08-04"
      }
    },
    {
      "group": "Take-Two’s disclosed relationship map",
      "label": "SONY",
      "value": "SONY",
      "display": "SONY",
      "unit": "ticker",
      "period": null,
      "detail": null,
      "source": {
        "kind": "jodie_evidence",
        "label": "Named in SEC filings",
        "as_of": "2026-08-04"
      }
    }
  ],
  "watch_next": [
    {
      "type": "product_pipeline",
      "statement": "R&D expense represented 17% of net sales (vs. 15% in prior period) driven by infrastructure-related costs, including investments in artificial intelligence, and higher headcount-related expenses.",
      "importance": "medium",
      "evidence": "centage of total net sales 17 % 17 % 15 % 15 % Research and Development Research and development (“R&D”) expense increased during the third quarter and first nine months of 2026 compared to the same periods in 2025 primarily due to higher infrastructure-related costs, including investments in artificial intelligence, and headcount-related expenses.",
      "source_date": "2026-07-31"
    },
    {
      "type": "interest_rates",
      "statement": "Repeated adverse filing language ties year-over-year changes in other income and expense to interest expense and impairments; monitor OI&E movements.",
      "importance": "medium",
      "evidence": "\"Year-over-year OI&E increased during the first nine months of 2021 due primarily to smaller impairments of securities, lower interest expense and favorable carrying value adjustments of non-marketable securities, partially offset by lower interest income.\"",
      "source_date": "2026-07-31"
    },
    {
      "type": "product_pipeline",
      "statement": "Monitor R&D expense changes tied to investments in compute capacity, AI talent, and data supporting product development.",
      "importance": "medium",
      "evidence": "Research and development expenses increased $3.1 billion or 9% driven by continued investments in compute capacity, AI talent, and data to support product development that benefits the entire portfolio, as well as impairment and other related expenses in our XBOX business.",
      "source_date": "2026-07-29"
    },
    {
      "type": "product_pipeline",
      "statement": "Quarterly and six-month R&D spending and composition (employee comp, depreciation) versus the reported June 30, 2026 amounts.",
      "importance": "medium",
      "evidence": "Research and development expenses increased $4.4 billion and $7.9 billion from the three and six months ended June 30, 2025 to the three and six months ended June 30, 2026, primarily driven by increases in employee compensation expenses of $2.9 billion and $5.3 billion, as well as depreciation expense of $592 million and $1.1 billion, respectively.",
      "source_date": "2026-07-23"
    }
  ],
  "related_tickers": [
    "AAPL",
    "GOOGL",
    "JPM",
    "MSFT",
    "NTDOY",
    "SONY",
    "TME",
    "TTWO"
  ],
  "disclaimer": "Descriptive reporting of filed results. Not investment advice, and contains no forecast or recommendation."
}