Robert W. Baird analyst says larger installed base compared to GTA IV in 2008 and “unprecedented pentup demand” means new game will outpace predecessor at retail.

Grand Theft Auto V will net $1 billion in sales during its first month, outpacing 2008’s Grand Theft Auto IV, according to Robert W. Baird analyst Colin Sebastian.

“Given the significantly higher installed base of relevant console platforms at launch, greater sales concentration among the top video game franchises, and unprecedented pentup demand, we expect GTAV to outpace GTAIV sales, and generate roughly $1 billion in retail sales during the first month,” Sebastian said in a note to investors today.

GTAIV shipped 3.6 million units ($310 million) on launch-day in April 2008, 6 million units ($500 million) during its first week, and 11 million units ($900 million) during the game’s first month. The game has shipped 25 million copies to date.

GTAV goes on sale tonight at midnight across the world. Its online component–Grand Theft Auto Online–will be released as a free update on October 1. For more, check out GameSpot’s review.

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