Pachter: Never underestimate Rockstar
It is a rare occasion when Wedbush Morgan analyst Michael Pachter admits he was wrong but he has done so in reference to Rockstar and Red Dead Redemption.
Pachter did not hold out high hopes for Red Dead Redemption and now, with the title being one of the biggest hits of 2010 he confessed that he has learned his lesson.
He explained: "I'm not going to make the same mistake I made last year. The lesson I learned is to NEVER UNDERESTIMATE ROCKSTAR. Those guys are just phenomenal, they make great games, and they have their fingers on the pulse of gamers everywhere. I've heard that several key guys from Rockstar North (including Les Benzies and both Housers) have been intimately involved with Team Bondi in making the game, so the quality is certain to be very high; my views on Red Dead Redemption were based more on the genre than on any expectation that the quality would be low, and gamers proved me wrong by buying nearly 9 million copies."
He added: "It makes sense that L.A. Noire, with an equally limited genre, would have a limited audience, but the performance of Red Dead Redemption proves that gamers care more about quality and story than they do about genre. My best guess is that at least half of the buyers of Red Dead Redemption will buy L.A. Noire, and if Rockstar succeeds in delivering another game with a mid-90s review score, sales could be as high as they were for Red Dead. Of course, it's important for gamers (and for shareholders) that the Rockstar North guys get back to work on the next GTA, which will outsell both Red Dead and L.A. Noire combined."