Video game retailer Game Group is looking for new sources of revenue from the web and digital gaming to mitigate the effects of low consumer spending.
The company posted a 9.9% year-on-year decline in sales in the six months ended July 31 2011. Pre-tax losses were more than double those of last year's figures, at £51.5m.
"2011 has been a very tough year for the video games industry. A combination of a cyclical low point in the industry itself and unprecedented macro-economic conditions have led to significant market revenue declines," said chief executive Ian Shepherd.
In an attempt to reverse its fortunes, Game will focus on "investing for a different video games market," as people explore new ways of using games including digital, online and cloud-based gaming.
"The group, through its Dedicated to Gaming strategy initiatives, is taking a leading role in these developments in order to benefit from market recovery in the coming years," the company said.
Part of Game's plan to get back on its feet is a recently-announced strategic partnership with OnLive, a service which enables consumers to stream games live to their computers or televisions with pre-paid cards sold in stores.
