spronk
FPS noob
- 23,842
- 29,097
haha
GameStop stock price tanks after Microsoft announces new digital-gaming service
GameStop’s stock price has dropped nearly 8 percent today following Xbox boss Phil Spencer revealing the Xbox Game Pass service. This is a program where Xbox One owners can pay $10 per month to have unlimited access to over 100 Xbox One and backward-compatible Xbox 360 games. Of course, these are all digital games that you download from Microsoft’s Xbox Game Store, and it’s likely that investors are seeing this as a major threat to GameStop.
And an instant library on a console like Xbox One could potentially eat into GameStop’s sales. The brick-and-mortar retailer makes quite a lot of its money from secondhand sales where it resells products that consumers have traded in.
GameStop stock price tanks after Microsoft announces new digital-gaming service
GameStop’s stock price has dropped nearly 8 percent today following Xbox boss Phil Spencer revealing the Xbox Game Pass service. This is a program where Xbox One owners can pay $10 per month to have unlimited access to over 100 Xbox One and backward-compatible Xbox 360 games. Of course, these are all digital games that you download from Microsoft’s Xbox Game Store, and it’s likely that investors are seeing this as a major threat to GameStop.
And an instant library on a console like Xbox One could potentially eat into GameStop’s sales. The brick-and-mortar retailer makes quite a lot of its money from secondhand sales where it resells products that consumers have traded in.
- 1