News
Game Informer Magazine Ends Publication After 33 Years
posted on by Adriana Hazra
Video game retailer FuncoLand launched Game Informer in 1991. GameStop acquired FuncoLand in 2000. According to entertainment news website Variety, Game Informer circulated 8 million copies in the United States in 2011 when it was part of GameStop's PowerUp Rewards membership program. At that time it was the third-largest magazine in the U.S.
Game Informer's circulation dropped to 7 million copies by 2017. According to Variety, GameStop then laid off half of the Game Informer staff in 2019.
The company's editor-in-chief and founder Andy McNamara left the company in 2020. Andrew Reiner stepped down from the same position in 2022. Matt Miller was the editor-in-chief at the time of it ending publication.
GameStop terminated CEO Matthew Furlong in June 2023.
The company's sales declined 10% in the first quarter of the fiscal year ending April 29, 2023. It experienced a decline of 16% in the U.S. from US$995 million to US$832 million year-on-year. The company had adopted aggressive cost-cutting to narrow its losses in the previous fiscal year but still lost US$300 million.
GameStop's quarterly financial report for the third quarter ending on October 31, 2020 had announced that it would be closing 700 stores within the year. Since 2019, GameStop had closed about 800 stores worldwide.
Sources: Game Informer, Variety (Jordan Moreau)
