Video game mega-retailer GameStop is continuing to branch out from running 6,900 worldwide stores and into directly publishing games itself. The company revealed today that it will serve as the publisher for Song of the Deep, a new 2D underwater action-adventure game from Ratchet & Clank and Resistance developer Insomniac.

While GameStop and Insomniac both say this isn't a "traditional" publishing relationship, the deal does mean that GameStop will be the only place to buy disc-based copies of the game (which will also be available for direct download on PC, PS4, and Xbox One when it launches this spring). And while Insomniac says it will have full creative control over the title, GameStop will own the intellectual property, presumably maintaining control of the series if it becomes a franchise (Update: An Insomniac Games representative has informed us that Insomniac, not GameStop, will actually retain the IP rights to the game. Ars regrets the error). GamesStop will also presumably retain most of the profits from the game's merchandising plans, which already include a children's book and a Funko vinyl doll.

"We've all noticed a resurgence of indie titles over the years, and what's awesome about that is that the smaller titles tend to take more creative risks and deliver something that's very different than, say, the AAA, more realistic titles," Insomniac Games President Ted Price said at an event announcing the game (as reported by IGN). "When [GameStop executive] Mark [Stanley] and I were talking about how the market's evolving and looking ahead and bringing more to players, we started connecting on that particular topic, and we were serendipitously working on a pitch for Song of the Deep, and sparks ignited."

That quote makes it sound like GameStop's exclusive publishing deal is one of the main reasons Insomniac is able to devote a team of 15 people to what the nearly 200-person company calls a "passion project." And from GameStop's perspective, exclusive publishing rights could be a good way to differentiate itself from the retail competition.

"We have 62 million customers coming to our doors every year. How do we give more and more content and more exclusives and different kinds of games in our store, beyond just the traditional AAA, etc," Stanley told IGN. "We've worked for many years with publishers on exclusives in our stores, etc. This is a different way to bring added value to those customers. We think it's a very good balance to maintain."

That's a fine theory, but it's hard to say how much new foot traffic a smaller, 2D exploration game like this will draw for GameStop, even with a developer like Insomniac attached. And since the game will also be available as a direct download, there will be even less reason for interested players to actually go to a GameStop store.

The move to game publishing is just GameStop's latest attempt to diversify its business. The company owns the Impulse digital distribution service, popular Web game portal Kongregate, and lines of stores focused on mobile phones and Apple products . Last summer, GameStop also bought out retailer ThinkGeek , bringing a wide array of nerd-focused collectibles and toys to its stores. That diversification is going to be important as the US gaming market slowly but inexorably follows the music industry to a focus on digital downloads rather than physical discs. Already, major publishers like EA are making more money from digital sales than physical discs , and that publisher is well on its way along a planned transition to becoming a 100 percent digital company

Given that environment, GameStop's new move into game publishing might be akin to if Tower Records had pivoted to become a record label 15 years ago... which, all things considered, wouldn't have a been a horrible idea.