GameStop, a company that distributes video games to the average consumer and also owners EB Games announced that within the last three months they have been able to earn $68 Million in profit. This is a 24% increase compared to the first three months of 2013 for GameStop.
This information came to light after a report was released by the investors of GameStop. The report read as follows, “We are honored to announce to our investors that we have had a 24% increase in revenue compared to last year. We have been able to earn an extra $68 Million which proves that the video game market is still going strong. We owe this all to the Playstation 4 and Xbox One being released, moving forward we plan to offer special trade in promotions which will allow for us to earn and sell more used video games.”
For those of you who don’t know Gamestop doesn’t earn a lot of money when they sell a brand new video game or brand new console, they only receive a small percentage while the rest of the money earned from that console or video game is distributed to the developers, publishers, employees and more. GameStop earns the majority of their profit by selling used consoles or used video games, this is why it is so heavily important for these game shops to offer trade in promotions. It allows for them to earn more money in the long run.