In June, total video game sales dropped 6% to $1.1 billion, with software sales plunging 15% to $531.5 million, and software growing 5% to $401.7 million. These figures followed several months of declines.
The perpetuating fear is that -- as with the book, music and movie industries -- the increasing dominance of digital content is rendering the traditional means of selling video games obsolete. Investors have already seen this happen to Blockbuster (BBI), which is knocking on death's door as Netflix (NFLX) steals market share with its multi-platform movie experience. Borders (BGP) and Barnes & Noble (BKS) have also suffered as they try to find their place in an e-reader world.
Will GameStop now suffer a similar fate?Paul Raines, who took the reigns as CEO at GameStop just a few weeks ago, is tasked with figuring out what GameStop's place will be in this evolving video game market.
|GameStop CEO Paul Raines|
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