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Game pursues digital offerings to fend off recession

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.

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.

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