James Delahunty
9 Jan 2014 9:11
Shares in retailer GameStop fell 9 percent earlier this week as Sony detailed its new PlayStation Now game streaming/rental service at CES.
It would appear investors are cooling to GameStop as Sony offers customers a way to stream older PlayStation games to their PS4 and other devices. Customers will use PlayStation Now as a rental service either on a game by game basis, or through a subscription package.
The service is powered by Gaikai, which was acquired by Sony for $380 million in mid-2012.
PlayStation Now and similar services could affect GameStop's business if it reduces the number of customers shopping for games from previous generations. Of course, PlayStation Now and other streaming services still face limitations in the form of high-speed Internet availability for seamless gameplay.
Just under three years ago, GameStop acquired Spawn Labs' streaming service, which is being worked on by the retailers' R&D department.