Robert W. Baird analyst Colin Sebastian says Rockstar's open-world game to hit next-generation consoles next year to "extend the value of the franchise."

According to Robert W. Baird analyst Colin Sebastian, Rockstar Games' open-world game Grand Theft Auto V will be released on the PlayStation 4 and Xbox One in 2014.

In a note to investors today, Sebastian said releasing the game on next-generation platforms would "help extend the value of the franchise."

GTAV launched on Tuesday and generated $800 million in 24 hours, setting a launch-day record for parent publisher Take-Two Interactive as well as the Grand Theft Auto series overall.

Sebastian called this figure today the "largest entertainment property launch in history."

"We are now modeling 13-14 million units shipped in F2Q. We believe there is still potential upside to our targets," he said. "However, given the possibility that sales of GTA are front-loaded, we will await further sales data before adjusting our expectations further.

The PS4 launches in North America on November 15, while the Xbox One is out on November 22.

GTAV's multiplayer component--Grand Theft Auto Online--will be released as a free update on October 1. For more on GTAV, check out GameSpot's review.

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