HOW TO PLAY IT
According to Billy Montana
With 5G on the horizon, rich video game content is a great way to play the streaming boom, according to Billy Montana, portfolio manager at $21 billion (assets) Jackson Square Partners. A top holding: New York City’s Take-Two Interactive. “The best investment today is in the content owners,” he says. “Take-Two has the best intellectual property in interactive entertainment, a subcategory of media that should enjoy secular growth for the next decade.” As platforms fight for its franchises, which include Grand Theft Auto, NBA 2K and Civilization, Montana expects tolls charged by Xbox and PlayStation will fall from their current 30% of Take-Two gross revenues to 15%, and points out its pipeline is at a record high.