Video game sales topped $36 billion in 2017. Nearly $30 billion of that coming from game sells and subscriptions. 2018 Read more →
Gamestop Closing 120 Stores, Will Shift Focus
Well-known games retailer Gamestop is set to close between 120 and 130 stores this year as it tries to shift its focus to mobile platforms. GameStop CEO Paul Raines gave a presentation at GameStop’s 2014 Investor Day — as reported by Games Industry International, in which he revealed a new era for the company called Gamestop 3.0. It’s “a new phase of the company’s lifespan that will see it aggressively expand its footprint into gaming-adjacent tech fields,” according to the article.
For now, the company will focus primarily on Apple-branded devices such as the iPhone and and iPad. Gamestop’s own brands, such as Spring Mobile and Simply Mac, is also set to expand at a significant rate to fulfill Raines’ new company vision.
There are currently around 6,500 brick and mortar stores spread across the United States, so the number of stores planned to close down might not be all that much, but considering the substantial jobs it will affect, and the new future for Gamestop (which will pretty much ensure further stores closing down), this is nothing to ignore.
Though Gamestop is trying to evolve, both hardware and software sales are at a constant high, according to the recent NPD Group report. Both new next-gen consoles, Xbox One and PS4, are having record breaking sales with the former selling around 5.1 million units while the latter sits at 7 million sold.