GameStop shares slide on Xbox One preowned rumors
[UPDATE] Share value down more 13 percent today amid new reports claiming GameStop's business could be hurt by Microsoft's rumored used game policy for next-gen platform.
[UPDATE] Following the publication of this story, GameStop shares continued to fall. At press time, the retailer's stock value is down 13.36 percent to $31.19.
The original story follows below.
At press time, GameStop shares are down 6.75 percent to $33.61.
The company's stock value has dropped steadily since Tuesday, when Microsoft announced the Xbox One and gave first details about how it would support the used game market.
MCV reported today, citing retail sources, that retailers will be able to charge whatever they want for secondhand Xbox One games, while Microsoft and publishers will receive a cut of every transaction. GameStop will be left with the remainder, according to the supposed scheme.
Under its current business model, GameStop nets 100 percent of the used game sale.
Microsoft's rumored plan would not likely kill the secondhand market, but only minimize its lucrative margins by giving a cut to publishers.
Sony has not been forthcoming regarding its plans for used games, either. The company--like Microsoft--has confirmed that preowned titles will be supported on the PlayStation 4, but said decisions about activation fees will be left up to individual publishers.
"It's a publisher decision," Sony said in February. "We are not talking about it. Sorry."
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