GameStop chief executive Ryan Cohen said the decline of physical video games would be irrelevant to the retailer’s business, despite the industry’s continuing move towards digital releases. His comments matter because they suggest GameStop now relies far less on game sales than its name and traditional business model imply.

Cohen told Bloomberg that software accounts for under 12% of the business, while collectibles account for more than half. GameStop’s first-quarter 2026 figures put collectibles at 41.8% of revenue and hardware and accessories at nearly 40%; Cohen also redirected discussion of a disc-less Grand Theft Auto 6 towards his proposed acquisition of eBay.