GameStop CEO Ryan Cohen has downplayed the importance of physical video game software to the company’s future, stating that game sales now account for less than 12% of its overall business. The comments came during an interview with Bloomberg Tech, where Cohen discussed GameStop’s long-term strategy and its ambitious bid to acquire eBay after the company’s reported $56 billion offer was rejected.
The discussion also touched on the gaming industry’s continued shift toward digital distribution, including Sony’s reported plan to end disc-based physical game releases by 2028. While physical media has long been associated with GameStop’s identity, Cohen suggested the retailer’s business has already evolved beyond relying on software sales.
Collectibles now drive GameStop’s business growth
When asked how a disc-less console future would affect the company, Cohen dismissed concerns about declining physical game sales.
“It doesn’t matter, it doesn’t matter at all. Software, it mattered in the past. Software today makes up less than 12% of the business and collectibles makes up over half the business. So it’s totally and totally irrelevant.”
According to Cohen, collectibles have become the company’s largest revenue driver, accounting for more than half of GameStop’s business. The retailer recently reported record first-quarter profits, with strong demand for Pokémon Trading Cards and action figures contributing significantly to its performance.
Cohen also reaffirmed his interest in expanding through eBay despite the rejected acquisition proposal, stating that “GameStop was coming for eBay one way or another,” although he declined to say whether the company would increase its offer.
