Gamestop has been in a tumultuous position for a few years now and the continued expansion of digital content has taken its toll. While the company has attempted to mitigate the losses of business, they’ve still been in a financial tailspin. Today, Gamestop has announced a new partnership with MIcrosoft that aims to help them turn the corner.
Formally, Gamestop and Microsoft entered into a multi-year partnership which will “standardize the Company’s business operations on Microsoft’s cloud solutions and hardware products to deliver rich new digital experiences to customers, creating the “ultimate gaming destination” for gamers in its vision to be the premier omni-channel customer access point for video game products.”
George Sherman, GameStop’s Chief Executive Officer, offered the following statement:
This is an exciting day at GameStop as we announce the advancement of an important partnership that capitalizes on the power of our operating platform and significant market share in gaming to accelerate our digital transformation; drive incremental revenue streams; and over time, further monetize the digital world of gaming. Since joining the Company last April, we have been on a mission to evolve our strategy to take advantage of our undisputed leadership position in gaming. Clearly, GameStop is a top destination for an entire spectrum of gaming products, and we are excited about the opportunity to leverage our capabilities in support of the launch of the next generation of gaming consoles and expand our reach and connection to the worldwide gamer community through this partnership.
Phil Spencer, Microsoft, Executive Vice President of Gaming, added:
For many years GameStop has been a strong go-to-market partner for our gaming products, and we are excited about continuing and evolving that relationship for the launch of the Xbox Series X|S. GameStop’s extensive store base, focus on digital transformation in an omni-channel environment and expert gamer associates remain an important part of our gaming ecosystem, and we’re pleased to elevate our partnership.