GameStop (GME) reports 56.7 million PowerUp Rewards members as of January 28, 2023
The Form 10-K also revealed that of these members, 5.6 million are Pro members.
GameStop (GME) has released its Form 10-K and within it the company highlighted the number of PowerUp Rewards members now sits at 56.7 million. Of these members, roughly 26 percent have purchased or traded with the company in the past year.
On March 28, 2023, GameStop (GME) released its annual Form 10-K, within which numerous aspects of the company were detailed. This information included insights into the company’s PowerUp Rewards program, which now has 56.7 million members.
Our U.S. loyalty program, called PowerUp Rewards ("PowerUp Rewards"), had approximately 56.7 million members as of January 28, 2023, of which approximately 15.0 million members have purchased or traded at GameStop in the past year. The PowerUp Rewards membership totals include 5.6 million paying pro members. Our loyalty program generally offers our customers the ability to sign up for a free or paid membership, the latter of which gives our customers access to exclusive gaming related rewards. The program's paid membership generally include a subscription to Game Informer magazine and additional discounts and benefits in our stores and ecommerce platforms.
Of the 56.7 million members, 5.6 million are PowerUp Rewards Pro subscribers. This appears to be a decrease from the numbers reported in March 2022, where Pro members were sitting at 5.8 million. In September 2022, GameStop and Immutable had a promotion whereby PowerUp Rewards Pro members received free expansion packs in Gods Unchained, a Web3 game.
Source: GameStop
On the cryptocurrency and NFT front, GameStop noted that its NFT Marketplace sales weren’t material to 2022 revenue. This is a similar situation to the Q2 2022 results, which indicated that revenues from the marketplace were also “not material”.
The other aspect of the PowerUp Rewards numbers is that GameStop notes approximately 15 million of the 56.7 million members have purchased or traded at the company in the past year. This is a little over a quarter of the members.
With the Form 10-K now available to read, investors will have more information on which to base their decisions. Be sure to read over our various GameStop pages for more insight into the company. Last week, GME stock rocketed 38 percent higher on the earnings results and the CEO said GameStop has “a path to full-year profitability”.
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replySam Chandler posted a new article, GameStop (GME) reports 56.7 million PowerUp Rewards members as of January 28, 2023
