While all of the excitement is about Sony’s CES 2014 unveiling of PlayStation Now, it looks like the grand opening of Sony’s streaming service has had a reverse effect on GameStop’s fortunes. It’s now been confirmed that PS Now has effectively caused a drop in GameStop shares.
In a nutshell, PS Now is going to allow PS4 and PS3 users the ability to stream a range of gaming content directly from the cloud. More specifically, Sony will open up a renting service – giving gamers the option of paying for games on a game-by-game basis.
As you can imagine, this could mean a drop in retail sales for GameStop, as gamers prefer to get their complete PS4 fix at home without having to buy a single game from retailers any more. As a result of the news at CES 2014, MarketWatch insights has revealed an 8% drop to GameStop shares as of Tuesday.
No doubt that GameStop are paying very close attention to PlayStation Now as it has the potential to be massive for Sony and big trouble for GameStop. If Sony prices PlayStation Now in a similar way to PS Plus which offers unbeatable value, then it is going be a very interesting 2014 for all parties concerned.
Are you surprised to see GameStop shares fall by as much as 8% directly after the PS Now announcement? Let us know your thoughts on the upcoming service, ie how much you would be willing to pay to rent a single streaming PS3 or PS2 title.