GameStop’s Ryan Cohen: Physical Game Sales ‘Totally Irrelevant’
GameStop CEO Ryan Cohen dismissed the decline of physical video game sales as "totally, totally irrelevant" to the company’s business in an interview on Bloomberg TV. He made this statement while discussing Sony’s announcement to end PlayStation disc production by 2028.
In contrast, Cohen emphasized that collectibles now drive GameStop’s revenue, accounting for 41%, while software sales have dropped to a mere 18%.
Cohen has repeatedly expressed his desire to acquire eBay, a strategy he believes could transform GameStop into a "$1 trillion business". Despite eBay’s board rejecting his $56 billion bid in May, GameStop continues to accumulate a significant stake in the company.
When asked about the upcoming release of Grand Theft Auto VI, Cohen deftly shifted the conversation back to eBay. This pivot highlights his focus on acquiring a platform that aligns with GameStop’s evolving business model, even as the traditional video game industry undergoes significant changes.
Whether Cohen’s bet on eBay pays off remains to be seen, but it’s clear that physical game sales are no longer the primary driver for GameStop’s success.