GameStop's CEO Just Said The Worst Thing Imaginable For His Relationship With Gamers, & Customers Are Not Holding Back
Cohen said physical game sales are irrelevant and said GameStop’s future depends on collectibles and a proposed eBay deal.
- GameStop CEO Ryan Cohen dismissed physical game sales as "totally, totally irrelevant" on Thursday during a Bloomberg TV interview, responding to Sony Group Corp's decision to halt physical disc production for new PlayStation games in 2028.
- Software sales accounted for just 18 percent of revenue in the most recent quarter, while Collectibles now make up 41 percent of the business, reflecting a strategic pivot away from physical games.
- Digital downloads account for 85 percent of PlayStation sales, and GameStop has closed more than 1,300 stores over two fiscal years; when asked about Grand Theft Auto VI demand, Cohen deflected to discuss eBay.
- Cohen reiterated his long-term strategy to acquire eBay, where GameStop submitted a roughly $56 billion bid rejected in May, claiming a combined entity could become a "$1 trillion business."
- With a $9 billion cash position, GameStop holds nearly eight percent of the e-commerce firm, though the financing gap for the roughly $56 billion acquisition remains substantial and the board has shown no interest in a deal.
17 Articles
17 Articles
GameStop CEO says physical video-game sales are 'irrelevant' to business
GameStop Corp chief executive officer Ryan Cohen dismissed concerns about the demise of physical discs for video games, insisting that those sales make up a small part of the company's overall business and reiterating that his long-term strategy is to focus on gaming collectables and purchasing e-commerce giant eBay Inc.
GameStop's CEO Just Said The Worst Thing Imaginable For His Relationship With Gamers, & Customers Are Not Holding Back
Back in May, GameStop’s CEO made headlines with his efforts to buy eBay. Along with the offer itself, CEO Ryan Cohen put up several iconic pieces of gaming history for auction on the site to help fund the deal. In the end, eBay turned him down, despite Cohen’s insistence that he had a strong plan for the business. Now, GameStop is on people’s minds yet again as PlayStation’s pivot away from physical discs leaves the future of used game sales in …
GameStop CEO Ryan Cohen Insists Sony Killing Physical Discs 'Doesn't Matter at All' Because Video Game Sales Make Up So Little of His Business
GameStop CEO Ryan Cohen has sparked a fiery debate in the gaming community after remarking that sales of physical games are “totally irrelevant" to his business.
GameStop's Ryan Cohen calls physical game sales 'totally irrelevant' and pivots every question back to eBay
GameStop CEO Ryan Cohen dismissed physical game sales as irrelevant on Bloomberg TV as collectibles hit 41 percent of revenue and he pushes his eBay bid.
GameStop CEO Says Physical Video-Game Sales Are ‘Irrelevant’ to Business
GameStop Corp. Chief Executive Officer Ryan Cohen dismissed concerns about the demise of physical discs for video games, insisting that those sales make up a small part of the company’s overall business and reiterating that his long-term strategy is to focus on gaming collectables and purchasing e-commerce giant eBay Inc.
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