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GameStop CEO Says Disc-based Games Will be Around Forever; Company Plans for the Future of VR

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  • GameStop CEO Says Disc-based Games Will be Around Forever; Company Plans for the Future of VR

    The CEO of GameStop, Paul Raines, says that disc-based games "will be around forever."

    The Fortune article where the above quote comes from, also mentions some interesting statistics.

    In 2015, digital sales were an estimated $11.1 billion out of the global revenues hitting $82.5 billion. GameStop reportedly pulls in over $1 billion in trade credits from used game sales. 70% of those credits are then used by customers to purchase a new game. Used game sales accounts for a quarter of all of GameStop's earnings.

    In the pipeline, GameStop is going to focus heavily on virtual reality. They plan to have demos for all three major VR devices (Oculus, Vive, and PlayStation VR) in the months ahead. VR is expected to be a $30 billion industry by 2020 and by the end of 2016 it's expected that there will be over 10 million VR consumers.
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