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Forums - Gaming - GameStop Plunges After Sony Unveils PlayStation Now Streaming Service

Figgycal on 08 January 2014

Mock if old:

http://www.forbes.com/sites/briansolomon/2014/01/07/gamestop-plunges-after-sony-unveils-playstation-now-streaming-service/

The video game world shook on Tuesday afternoon after Sony announced (along with a new Internet-based television service in the US) a streaming service called PlayStation Now at the Consumer Electronics Show. Video game retailer GameStop GME -8.37% shares sank immediately following the news, as gamers considered a future without physical CDs and visits to their local store.

As Forbes contributor Erik Kain explained today, PlayStation Now is a cloud-based project that brings original PlayStation, PS2, and PS3 games to the PS4 console and handheld PS Vita, as well as other Internet-connected devices like HDTVs, tablets, and smartphones.

...

Meanwhile, analysts at Stifel Nicholas downgraded GameStop stock to “hold.” At Tuesday’s close, the shares had fallen 8.37%.

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I'm curious if this has anything to do with Sony at all. Can someone give me some insight?


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Soleron on 08 January 2014

Gamestop's greatest profit margins are on used games

PS Now allows you to be able to buy and access older games on your devices without needing Gamestop

The announcement indicated a very broad scope for the programme and that it will be arriving very soon, compared to Gamestop's guidance to investors



jlmurph2 on 08 January 2014

Good, now if only MS would get Rio up and running Gamestop would be in real trouble.



vivster on 08 January 2014

I don't think it will have much of an impact on retailers for now. PSNow is aimed and people who don't own the necessary consoles and so wouldn't buy the games for them anyway.



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JoeTheBro on 08 January 2014

I don't see a large overlap between PS Now and GS. This drop should have been for a different reason.



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DevilRising on 08 January 2014

I don't shop at shitstop anymore anyway. I buy at other stores, or Amazon. Discs ain't going anywhere, but Gamestop can go under for all I care.



KingdomHeartsFan on 08 January 2014

That makes no sense...PS Now is targetted at streaming older PS games, PS1,PS2,PS3, GS will still thrive off PS4 game sales.



KingWithNoKrown on 08 January 2014

If something like Gamefly didn't affect GameStop than this certainly wont. They're fine.

This streaming games thing wont even catch on.



J_Allard on 08 January 2014

Does GS even do much business in stores for PS2 anymore? All of them in North Texas have tiny PS2 sections now and non-existent PS1 sections. Furthermore PS Now will require good Internet speeds. Lastly, it's not likely that Sony will just open the entire library of all 3 consoles for streaming. If I want to replay earlier Deception games in anticipation of Deception IV this year, I'll surely still have to track down used copies. I can't imagine it making much of a dent in GS's business. Not immediately anyway.



Figgycal on 08 January 2014

The forbes article is the only one I read from yesterday that makes the connection between Gamestop and PS Now.