GameStop announced a subscription video game rental service yesterday, according to news from TechCrunch. The service, called “PowerPass,” is only available in six-month increments.
Subscribers can rent video games from within GameStop retail locations, Mashableadded.
Through the rental subscription service, consumers will be able to rent an unlimited number of pre-owned games within the six-month period. PowerPass will cost $60 per subscription interval. Subscribers are able to keep one game video game at the end of the period, TechCrunch stated. Consumers must sign up for GameStop’s loyalty program, Power-Up Rewards, in order to become eligible for the rental service.
The Power-Up Rewards program was revamped last year, altering it so that rewards points were redeemed automatically.
“Many of our Power-Up Rewards members have asked us to send them their rewards automatically upon hitting a certificate reward threshold,” Frank Hamlin, chief marketing officer at GameStop, said in a statement. “We listened to our customers and are now giving them the option to customize their reward experience, helping our customers track their accounts in real-time, while keeping more money in their pocket and offering a more personalized experience.”
TechCrunch said that GameStop shares fell 8 percent in the wake of its most recent earnings report. The video game retail portion of its business shrunk by 3.4 percent in Q2.
TechCrunch suggested that a video game rental program may be a way for GameStop to leverage its pre-owned games inventory and increase revenue through subscription fees.
The program will launch on Nov. 19, Mashable stated.
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