During an interview with Bloomberg News, Cohen was asked if digital-only games could become a serious problem for GameStop. He didn’t seem worried, saying physical game sales make up “less than 12%” of the company’s business these days.
According to Cohen, trading cards and collectibles now make up more than half of GameStop’s revenue, with Pokémon trading cards leading sales in stores. He also noted that the company recorded $143 million in operating profit during the first quarter of 2026, the highest operating earnings in its history.
The company’s latest financial filing shows collectibles and trading cards accounted for approximately 41% of quarterly revenue, compared with about 12% from software sales. While that doesn’t fully match Cohen’s description of collectibles making up “more than half” of the business, both indicate the same broader shift. GameStop has increasingly transformed from a video game retailer into a business centered on collectibles.
Cohen’s comments nevertheless drew mixed reactions from the gaming community. Some believe GameStop should continue supporting physical games given its history, while others see his remarks as an honest reflection of the industry’s long-running shift toward digital downloads, with many major publishers now focusing primarily on digital releases.
A growing number of big games are no longer coming on discs. Titles like Cairn, Marathon, Esoteric Ebb, and The Alters: Last Variable launched as digital-only releases. Rockstar Games made headlines for saying Grand Theft Auto VI would do the same, with boxed copies containing just a download code. After fans pushed back, the company hinted that a real physical edition might still happen.
Sony recently announced that it will discontinue physical releases for new PlayStation games beginning in January 2028, marking another step toward an all-digital future. While the decision has faced backlash from some players, there is little indication that Sony intends to reconsider. This week, the European Union also confirmed that it cannot prevent the company from ending physical game releases.
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