HMV surpasses Amazon to regain spot as UK’s No. 1 physical music retailer

Record shop is top of the pops

HMV, the record shop famous for the “His Master’s Voice” image of a perplexed dog examining a gramophone has regained its place as the UK’s biggest music retailer for physical music.

After escaping what looked like a death spiral in 2013, the company has staged an impressive comeback, overtaking Amazon for sales of CDs and vinyl records.

What’s more, it has managed to do so despite operating from a third less shop space than it had before it flopped.

Sales of CDs rose 1.4% on a year-to-year measure over 2014, while renewed interest in vinyl has seen a jaw-dropping 170% surge to reach the highest levels since the mid-1990s.

Paul McGowan, chief executive of Hilco, the company which took ownership of HMV in 2013 said: “HMV has captured more and more market share in a year when major new movie releases have been scarce and there have been only a few major album successes.

“With a bumper year of new releases already planned for 2015 we expect to have overall growth in like-for-like DVD and BluRay sales as well as continued growth in the physical music sector with vinyl also expected to continue its revival.”

Now read

 

Social Bookmarks