"I always felt good about the future of GameFly, but I feel better today," Spector said. "Today is a win/win for consumers, as well as GameFly. I think choice is always important and now consumers have more choice. And I give [Microsoft] credit for listening to their consumers."
Spector went on to say that Microsoft's previous plan "would have been detrimental to lots of people's [business] systems" and not just GameFly's.
Microsoft's former policy stood to negatively impact GameFly's business, as it stated that Xbox One games could be shared only once, and only with someone a player has been friends with on Xbox Live for 30 days.
GameFly is not the only company to applaud Microsoft's policy reversal. GameStop, which makes a significant portion of its revenue from secondhand sales, said the move was "great news" for gamers.
GameStop shares have since surged.