Take-Two Interactive, the NBA and NBPA have announced that they have renewed their licensing deal, with a 7 year agreement for NBA 2K, worth as much as $1.1 billion (source: Eric Fisher, the SportsBusiness Journal and WSJ).
Read the full press release below.
NBA, NBPA AND 2K ANNOUNCE LONGTERM PARTNERSHIP EXPANSION
Agreement Expands Upon Success of NBA 2K – Interactive Entertainment Industry’s Top-Rated and Top-Selling NBA Video Game Simulation Series
The National Basketball Association (NBA), National Basketball Players Association (NBPA) and 2K, a wholly-owned label of Take-Two Interactive Software, Inc. (NASDAQ: TTWO) and publisher of the leading global basketball video game NBA 2K, today announced a significant, multiyear global partnership extension. The agreement expands upon the success of NBA 2K, the top-rated and top-selling NBA video game simulation series for the past 17 years* that has sold-in more than 86 million units worldwide.
“The NBA has been an outstanding partner throughout the history of the NBA 2K franchise, contributing significantly to its unparalleled success and the ability to grow its audience around the world across a myriad of platforms and offerings,” said Strauss Zelnick, Chairman and CEO of Take-Two. “We’re thrilled to be in business with Adam and the entire team at the NBA, and enter into the longest-ever partnership extension between our organizations. Together, we’re confident that we will continue to find new and innovative ways to captivate and engage basketball fans, and expand further the success of the NBA 2K brand.”
NBA 2K recently launched NBA 2K19 after setting a series record for NBA 2K18 with 10 million units sold. This year marks the 20th anniversary of the video game franchise.
“An entire generation of basketball fans engage and connect with NBA teams and players through NBA 2K,” said NBA Commissioner Adam Silver. “We are grateful to extend our partnership with Take-Two and the NBPA to build on the enormous popularity of the NBA 2K franchise and the continued global growth of basketball.”
“NBA 2K has become an important part of the NBA culture both for our players and fans,” said NBPA Executive Director Michele Roberts. “Kudos to THINK450 for successfully negotiating this extension on the NBPA’s behalf. We look forward to continuing this partnership with the League and Take-Two Interactive.”
Other facets of the partnership include NBA 2K Online and NBA 2K Online 2, which together have 40 million registered users and is the #1 PC online sports game in China. In addition, 2K recently published NBA 2K Playgrounds 2, NBA 2K Mobile,and launched the groundbreaking NBA 2K League in May 2018.