Earnings Everywhere: GTA's Netflix Stunt, Nintendo's Flat 130 Million, and Roblox's Safety Bill

Three of the biggest names in games reported inside a single week and the headline numbers pointed three different directions. Nintendo's profit nearly doubled. Roblox missed on revenue while its player count rose. Take-Two was hours from reporting a loss.

Underneath all of it sat the same question, and it's the one worth asking about your own game: is the pool of players getting bigger, or are you just getting better at extracting from the pool you already have?

Greg Posner and Colan Neese are joined by Simeon McMillan, founder of the media and tech stocks newsletter Accrued Interest, who came up through TV, radio and cable ad sales before he started writing about the companies. Plus the debut of Bull or Bear, where we assign the side and make you argue it whether you believe it or not.

In this episode

00:00 Cold open and intros

03:05 Rockstar announces a trailer, and premieres it on Netflix

09:27 Greg thinks it's a stunt. Colan doesn't.

12:26 The black hole: why games launching before GTA are already losing share

14:51 Bull or Bear, round one: can GTA 6 hit investor expectations?

18:35 13% attention share against a 2% field

22:16 How to actually read an earnings call, and why EPS is the wrong line

27:51 Nintendo: profit doubled, forecast unchanged, and the tariff asterisk

29:05 The number nobody leads with: 130 million players, flat for three years

37:02 Ocarina of Time, the Zelda film, and Nintendo's two-ponds problem

43:22 How Switch became the value machine by standing still

49:13 Bull or Bear, round two: has Switch 2 already proven itself?

52:35 House notes

53:42 Roblox: what trust and safety actually costs a platform

55:11 Trapped in kid land, and the ad ceiling Roblox can't move

01:00:50 Where to find everyone

Numbers worth keeping

GTA 6 at roughly 13% demand share against a field where most fall titles sit near 2%. Nintendo's total player relationships flat near 130 million for about three years. Roblox averaging around a minute and a half per experience.

Demand-share figures are Colan's own MindGame data at Screen Engine/ASI.

Guests

Simeon McMillan writes Accrued Interest at accruedint.com, also on Substack.

Colan Neese is SVP of Gaming at Screen Engine/ASI and writes Patch Notes on LinkedIn and Substack.

Correction: Greg refers to Roblox reporting "yesterday." Roblox reported its Q2 2026 results on July 30, a week before this conversation.

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