GameStop posts $488 million loss for last quarter
Every twelvemonth, publishers reveal figures on physical and digital game sales. While in 2022 concrete sales were going strong, digital sales take slowly taken over and now account for a massive chunk of the market place. In many cases, certain developers — like those behind Earthfall — are releasing cheaper digital copies on platforms similar the the Microsoft Shop. Information technology's hard to deny that there is a massive shift.
While digital stores are thriving, companies similar GameStop aren't doing and then well. According to a report by Game Rant, GameStop "reported a loss of $488 million in the tertiary quarter of 2022 despite solid growth from hardware sales and accessories."
While the gaming industry is booming, it seems like pre-owned games aren't at all. The written report stated that GameStop said in that location was a 13.iv percent pass up in pre-owned sales. This might be due to the fact that a lot of gamers are buying digital copies that tin't be traded. However, it might besides be due to the fact that gamers are unsatisfied with the discounts GameStop offers on used items. No specific reason was given during the earnings telephone call.
GameStop has recently ventured into publishing games and selling collectibles to increase profits, just game sales are still its bread and butter. We'll have to see what the future holds, but this trajectory is definitely not good for the company. Do you purchase games from GameStop? Do you preorder physical or digital formats? Allow us know.
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Source: https://www.windowscentral.com/gamestop-posts-488-million-loss-last-quarter
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