Microsoft announced today that it is introducing a new premium membership program for Xbox One that will give players instant access to scores of digital games, and Wall Street is viewing that move as somewhat hostile toward one of the world’s biggest gaming retailers.
GameStop’s stock price has dropped nearly 8 percent today following Xbox boss Phil Spencer revealing the Xbox Game Pass service. This is a program where Xbox One owners can pay $10 per month to have unlimited access to over 100 Xbox One and backward-compatible Xbox 360 games. Of course, these are all digital games that you download from Microsoft’s Xbox Game Store, and it’s likely that investors are seeing this as a major threat to GameStop.
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GamesBeat