According to the chief of Take-Two (the company behind Grand Theft Auto, Borderlands and Bioshock), in just five years’ time from now, the PlayStation 4 and Xbox One will outsell their already-popular predecessors, likely to bag more world records on the way.

When the PlayStation 3 and Xbox 360 were initially announced, they too received an absolutely amazing response — 80 million sales each. However, the PS4 and Xbox One are expected to beat this, claims Take-Two chairman and CEO Straus Zelnick, speaking at the Credit Suisse 2013 Technology Conference last night.

“It appears that – and this is largely anecdotal, but tablets are a good example – all these new iterations of more and more exciting hardware seem to have picked up in velocity generationally compared to five or 10 years ago,” he said.

“But if we had a big market meltdown, for example, a repeat of 2008 and 2009 in three years, or two years, or two minutes, that would influence it. But if this economy stays on this track, yeah, I feel good about it.”

Both consoles have received an excellent response so far, with the Xbox One launched in 13 countries and reaching one million sales in the first 24 hours, and PS4 in 32 countries, reaching 2.1 million sales. As well as this, Sony has scooped up the title as the ‘UK’s fastest-selling console ever’, with 250,000 Brits purchasing the PS4 in just 48 hours.

Those at the conference also asked Zelnick about his company’s plans for both consoles, skipping the question, he said, “If I said we had a title called Steven’s Life in Elementary School next October and I told you it was going to sell 20 million units, what credibility could that possibly have? New intellectual property is a risky business.”

Zelnick was then brought to the attention of a somewhat excruciating topic, getting questioned about the lack of backwards compatibility from both the PS4 and Xbox One.

He replied, “I don’t see it as a problem at all, and certainly we have the physical ability to port, and it wouldn’t be particularly costly.”

Sony have said that they plan to bring this feature to the PS4 sometime in the future, in the form of Gaikai, its game streaming technology, although there’s no word from Microsoft about the Xbox One and if it’ll get the same treatment.

See Also: PlayStation 4 is more popular than Microsoft’s Xbox One

It’s interesting to see that Zelnick is able to predict the future of two renowned and very popular products, which shows that he’s strong and like-minded character. And in all honesty, he’s probably right with what he’s saying because both consoles are on a high right now, with a number of other publications also proving his point.