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Imani
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(19 Dec 2011 - would be interested to see everyone's thoughts on this)

Like-for-like sales at music retailer HMV fell by 11.6% over the past six months, it has been reported. The troubled high street chain also announced a loss before tax of £36.4m in its interim results. This is compared to a loss of £27.4m for the same period the previous year.

In light of the poor figures the firm said it was looking to sell its live music division in an attempt to bolster its finances. HMV Group, which recently sold bookseller Waterstone's, said it was placing HMV Live, which runs 13 venues and a number of festivals including Lovebox in London and Global Gathering near Stratford-upon-Avon, under strategic review which may lead to its sale.

However, the entertainment retailer said its shift in focus to technology products at 144 of its 252 UK stores was paying off. Like-for-like sales of headphones, speakerdocks and tablet computers at the refitted shops were up 147%.

HMV chief executive Simon Fox said: "This has been a challenging start to the year. However, we have taken decisive action to restructure the business and are now seeing the benefits of this, particularly in our Technology products business. "Like all consumer-facing companies we are facing tough trading conditions but we continue to push forwards through this period. We remain well prepared for the key trading days ahead."

http://www.citytalk.fm/news/uk-and-world/20111219-sales-at-music-retailer-hmv-plummet/
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Tue Dec 20, 2011 6:31 am
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Halfy
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It used to be rammed in HMV in the run up to Xmas, but for the last couple of years the internet has hit it hard. This year there haven't even been queues at the tills at their busiest time of the year. The shelves are stacked with old stock which no one is interested in and their offers on new releases are bettered on line.

The way we shop for certain things has changed. This has cost Woolies, Our Price and Savvi to disappear as well as countless independent stores, and I fear that HMV could well follow next year.
Crying or Very sad
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Tue Dec 20, 2011 9:06 am
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Imani
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Halfy wrote:
It used to be rammed in HMV in the run up to Xmas, but for the last couple of years the internet has hit it hard. This year there haven't even been queues at the tills at their busiest time of the year. The shelves are stacked with old stock which no one is interested in and their offers on new releases are bettered on line.

The way we shop for certain things has changed. This has cost Woolies, Our Price and Savvi to disappear as well as countless independent stores, and I fear that HMV could well follow next year.
Crying or Very sad


What was also quite eye opening was to read about them selling their live music division. Live work has always been seen as the one area that's been less affected.

At the same time as the entertainment infrastructure seems to be in a slow meltdown, we have this celebrity culture that's gone way over the top. Yet people aren't buying as much music.

A sobering thought (or maybe has you reaching for the bottle).
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Tue Dec 20, 2011 10:26 am
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People are buying music, just not in the same way.

I'm not sure trying to save their stores makes the most sense.
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Tue Dec 20, 2011 11:29 am
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Hugh
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People are still making music, you're all looking the wrong way; together!
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Tue Dec 20, 2011 1:05 pm
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Halfy
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Imani wrote:
What was also quite eye opening was to read about them selling their live music division. Live work has always been seen as the one area that's been less affected.

At the same time as the entertainment infrastructure seems to be in a slow meltdown, we have this celebrity culture that's gone way over the top. Yet people aren't buying as much music.

A sobering thought (or maybe has you reaching for the bottle).


From what I understand the live music division is one of the only parts of the business which is profitable. No doubt the bank has put pressure on them to sell something which will attract buyers. This way the bank knows they'd get a better price for it now than if the whole group went as a going concern. Hmmmmmmmm Rolling Eyes
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Tue Dec 20, 2011 1:25 pm
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the-ska-knight
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I'd be really really sorry to see HMV go under....
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Tue Dec 20, 2011 3:47 pm
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Big ska
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Why are people not goin in to H.M.V?. If you can get it somewhere else, cheaper, then why not. This says a lot about the way we buy music and the way H.M.V is run. I do feel for the guys who will lose the,ir jobs.
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Tue Dec 20, 2011 4:00 pm
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Imani
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When it comes down to it, purchasing cds is fast becoming an outmoded model. I still buy occasionally but I've noticed lots of people on Facebook recently listening to music by Spotify.

I think we're in an era now where musicians aren't as much symbols of identity for young people, i.e compared even to the mid 90s. On the question of sales, here's a recent article that appeared in The Guardian that's worth reading (by the way, I don't mean to be a doom merchant here at all, it's just pretty hard to ignore these trends)

WHEN BANDS FALL OFF CLIFFS

You sell a couple million albums. You're adored. Then 90% of your fanbase deserts you – and your record label isn't far behind. Rob Fitzpatrick investigates band collapse syndrome

http://www.guardian.co.uk/music/2011/oct/27/when-bands-fall-off-cliffs
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Tue Dec 20, 2011 5:00 pm
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Interesting article. I used to work with Tony Wadsworth. He was one of the more decent record execs.
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Tue Dec 20, 2011 5:19 pm
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simonbward
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sorry state of affairs all round Crying or Very sad
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Tue Dec 20, 2011 8:05 pm
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Sugarman
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The Older Generation have everything and The Younger Generation Download from the Internet It's a simple as that.

The older stuff has been released re released remastered digitally remastered through the years so what else can they do ?

The Internet and ipods have killed Music young people not longer want Physical releases anymore. when they can Download DVD's, books and Games for free my 13 year old Nephew does it all the time so what chance have HMV got with all this going on ? Crying or Very sad
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Tue Dec 20, 2011 9:01 pm
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the-ska-knight
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I had a couple of LPs out when my nephew was here last, and he actually asked me what they were. He's 12 and he genuinely didn't have a clue what records are. & the only reason he noticed them is because they were Star Wars albums!

I'm sure he's far from unusual, and I'm sure that a lot of kids older than him are exactly the same!
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Tue Dec 20, 2011 10:28 pm
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SpecialBrew
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simple for me as an example the madness boxset is £13.99 at sainsburys ,£16.99 online at amazon but in hmv in town its £24.99 and they wonder why no one uses them.
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Wed Dec 21, 2011 6:23 am
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Liam_Ska
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the-ska-knight wrote:
I'd be really really sorry to see HMV go under....


I won't.

HMV have been ripping off music fans for decades. They were always one of the most expensive record shops around and quite frankly don't deserve people's business or loyalty. There was no need for them to charge the extortionate prices they did. Fortunately, they've been forced in recent years to lower their prices somewhat.

When I was a kid and struggled to afford singles never mind albums, HMV would be charging £3.99 whilst other places were charging £1.99 for exactly the same single. I remember them charging over a tenner for cassettes in the late 80s/early 90s when other shops were charging around £6.99.

The store in Cardiff is one of their new look technology stores and it's horrific - the sooner it goes the better. It's full of ipods, laptops and t-shirts. There's not much music on sale their at all.

Thankfully a lot of independent record shops are still going strong and many manage to keep their prices way below that of HMV, yet there buying stock in miniscule amounts in comparison.
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Wed Dec 21, 2011 1:12 pm
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the-ska-knight
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I've been buying music for years and I really don't believe that HMV have been more expensive than everywhere else over that time. I don't believe that back in the day they were EVER more expensive than Virgin, Our Price, WH Smiths or anyone else who sold music when you actually needed something physical.

Re high costs of yesteryear - you can blame the bloody BPI for that as much as anyone else. Home Taping Is Killing Music?? Bollocks. If it was anything (which it wasn't - apart from a load of scaremonger shite by a bunch of marketing twats) it was the cost of music that was it's biggest problem.

Most music is cheaper now that it was - period.

And the example of the Madness boxset might well all be true at a particular point in time - but it fails to take into account the almost perpetual sale that HMV seemingly have, in which numerous items (good ones - not just chuck out stuff) are heavily discounted. It certainly might not always have been the case - but it is now.
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Wed Dec 21, 2011 1:42 pm
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the-ska-knight
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And incase all of the above just makes me sound like some sorta corporate whore, the best music shop that I've ever been in, and one which was regularly responsible for leaving me broke, is the sadly no longer with us Selectadisc. Sister Ray (which took it over) was always ok - but never quite as good, and it's never been quite the same.
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Wed Dec 21, 2011 1:48 pm
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Liam_Ska
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the-ska-knight wrote:
I've been buying music for years and I really don't believe that HMV have been more expensive than everywhere else over that time. I don't believe that back in the day they were EVER more expensive than Virgin, Our Price, WH Smiths or anyone else who sold music when you actually needed something physical.



Must depend on where you live I suppose. It was definitely the most expensive in Cardiff. Woolworths, Our Price, Virgin, John Menzies, WH Smith, Fopp and Spillers were all cheaper. Boots was more expensive when they had their record dept, but that was it.

You don't sound like a corporate whore by the way Smile
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Wed Dec 21, 2011 1:56 pm
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the-ska-knight
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Cheers Liam, show corporate whores the red card is what I say! Smile
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Wed Dec 21, 2011 2:08 pm
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clivebAKAThePubLandlord
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I may live in the past but it is really sad to see all the small independent shops closing, I worked in one as a kid and they were more helpful and had far more knowledge than the bigger record sheds
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Wed Dec 21, 2011 2:57 pm
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