“Arguably the bigger problem on consoles now is the trading in of games,” he tells Develop.
“I understand why players do this, games are expensive and after a few weeks of playing you’ve either beaten it, or got bored of it so trading it back in to help pay for the next seems sensible when people are short of cash.” 
However, citing figures suggesting that games are traded in as many as four times, he says that – if true – this means that publisher and developer royalties are effectively quartered.

“So while retail may be announcing a reasonable season, the money going back up the chain is a fraction of what it was only a few years ago.  This is a much bigger problem than piracy on the main consoles,”