GameStop CEO Considers Physical Games 'Irrelevant' to Business

In a digital-focused games industry, GameStop's CEO dismisses concerns over Sony's move to phase out physical game discs, emphasizing the company's shift towards collectibles and hardware.

GameStop CEO Ryan Cohen showed indifference towards Sony's decision to discontinue physical game discs, stating that the shift to digital doesn't impact the company. Despite the company's name, Cohen highlighted that software sales now contribute less than 12% to GameStop's revenue, with collectibles comprising over half. The CEO's focus on collectibles and hardware is evident, as they account for a significant portion of the company's earnings.

GameStop's stock price remained stable following Sony's announcement, with the company's revenue primarily driven by collectibles like Pokemon cards and hardware sales. Cohen's pivot towards discussing acquiring eBay and envisioning a massive business merger reflects his ambitious plans for GameStop's future, despite the diminishing relevance of physical games in the company's current operations.