Big Business: GTA IV Launch Will Top Halo 3

The Associated Press reports that Tuesday’s GTA IV launch will be the biggest video game release of all time, easily topping the $300 million in first-week sales generated by Halo 3 in 2007.

The AP quotes Wedbush-Morgan financial analyst Michael Pachter:

The addressable market at launch is about 24 million consoles. So how many will sell in the first week or month or few months? Nine million. That’s the number. That’s about a 35 percent attach rate. By year’s end, it’ll be somewhere between 11 and 13 million because more consoles will be sold before the holidays.

Bloomberg offers a similar prediction, as well as an estimate from Janco Partners analyst Mike Hickey that GTA IV will hit the $360 million mark during its first week at retail. Hickey summed it up for Bloomberg:

People are going to buy this game.

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