Activision's 'Destiny' Rakes in $500M on First Day

Game Becomes Biggest Non-Sequel Opener

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Activision Blizzard, the largest U.S. video-game maker, said its highly-anticipated shooter title, "Destiny," generated $500 million in revenue in its first day.

"Destiny," in which players act as the guardians of the last city on Earth, went on sale at more than 11,000 midnight openings around the world on Sept. 9, Activision said today in a statement. At $60 a copy, it was the most pre-ordered game in history that wasn't a sequel, according Cowen & Co. analyst Doug Creutz.

A strong start is crucial for "Destiny." For most games of this genre, almost 40% of sales for the first year are generated within first five days of release, Mr. Creutz said. Activision is spending as much as $500 million to make and market "Destiny," making it one of the industry's most expensive games ever.

By comparison, last year's "Grand Theft Auto V" generated $800 million worldwide for Take-Two Interactive Software on its first day last September, making it the biggest video-game debut.

Mike Hickey, an analyst with Benchmark Co. in New York, said in an e-mail that the "Destiny" game was expected to draw 10 million players on its first day, after a record 4.6 million had tested the July beta release.

The game was made in conjunction with Bungie Inc., the studio that created the "Halo" game for Xbox. It's released for Sony Corp.'s PlayStation and Microsoft Corp.'s Xbox consoles. The company is offering a version of the game bundled with a white PlayStation 4.

"Destiny, we think, will be the most successful new intellectual property that's ever been released," Chief Executive Officer Bobby Kotick said in an August interview.

~ Bloomberg News ~

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