Take-Two's Feder: Young Wii Users 'Graduating' To Move, Kinect
Ben Feder, chief executive of Take Two, told attendees at an investors event that children "raised" on Nintendo Wii are growing up wanting a true HD Wii experience, something he believes is offered by Sony's Move.
"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," he said.
Feder's spoke about Sony's motion control system in the context of forthcoming trends in the industry. "The PlayStation 3 with Move, in my view, is the Wii HD system," he said. "I think maybe Mom isnít playing, but the kids are Ďgraduating,í and Microsoft and Sony have both provided a bridge to bring them over... I believe [Nintendo] raised a generation of kids to play video games that are now growing up and wanting a true HD experience."
Feder's comments were made at yesterday's Kaufman Bros L.P. Investor Conference in New York, where he was speaking about his company's recent performance to potential investors.
Todd Mitchell, the media analyst with Kaufman Bros who introduced Feder to the stage, described Take-Two as "one of the more frustrating stocks I've covered," due to the company's unpredictable results in recent years.
In explaining the unpredictable nature of the industry, Feder said: "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.
"Good games don't make it anymore," he continued. "In fact, good is the new bad. Games have to be great."