Yesterday we reported on a rumor that the next-generation Xbox might require an Internet connection for it to remain functional. If true, this would be a direct threat to the used game market. That market is currently dominated by GameStop, who gets half of its profits from the sales of used video games.
Well, this rumor spread far and as a result, GameStop’s shares dropped substantially, down as much as 11.4 percent as of last night. This is their biggest drop since May 17. The shares seem to be leveling off now though.
The idea that next-generation consoles will no longer support used games has been discussed for awhile now. No console maker has made a move yet however. This news makes you realize how fragile the used games market can be. We don’t even have confirmation yet and it affects shares.
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