HMV Calls In The Administrators

[Bambino]

The end of an era

https://www.bbc.com/news/business-46699290

[Anonymous]

Again

[Bambino]

Yes it is for the second time @Anonymous, but I think this time it's for keeps.

[sheepdog]

A few years ago (about 2008) whilst browsing in HMV looking for some obscure things, I overheard a brief conversation between a couple of girls which basically said "I can download that for free from the internet". Which more or less sums up why shops selling physical media were on a loser because the younger generation regards any sort of media valueless consequently rating the artists work as zero and have no intention of buying anything. No sales = studios only putting money into things that will sell which means rehashing the same old formats time and time again.

Yes, streaming is one of the biggest killers of physical media stores but the article mentions the other silent killer of business rates and rents that have been increasing forcing shops to shut down on top of the reducing footfall in towns. What didn't help HMV's cause was the actual rip-off prices (I'm talking pre-Amazon) and their own website which was worse for items than the shops!

Though I'll miss browsing around in the world, anime and TV boxset sections as well the music that got louder the closer to the till you got!

[TallTrees]

Read that too ~ I like music very much. 

The 45rpm's records were too expensive for me to buy never mind the LP's 

Possibly the recording Companies have had their day. 

They made millions from Artists ~ not well up on this but I believe they even ripped off the Artists at that time? 

Then the little tapes and the CDs very expensive.

HMV?   I won't shed a tear for them.  

[Cleoriff]

It is confusing.

On the news this evening they mentioned the previous issues in 2013, then went on to show 2018 figures which are a vast improvement on 2017.

I suppose it was just a matter of time before the inevitable happened.

[Glory1]

I used to be one of HMV's best customers as I bought my  DVDs and cassettes, later CDs in their flagship Oxford Street store, and my local shop. Then I shopped in the nearest HMV shop to me, after their troubles in 2013 and the closure of so many stores in London, including my local shop. . 

Then I found Amazon, which was not only cheaper but had a better selection of films and music, the latter which I began downloading rather than buying CDs. 

You mention their rip-off prices @sheepdog and I totally agree with you on that. An example, HMV wanted nearly £300 for the complete series of 24, that Amazon were selling for under £100. That was my introduction to Amazon and I've never looked back.

HMV did begin to reduce their prices but it was too little to late and the ability to stream films and TV shows, as well as music, sealed their fate and signed their death warrant. 

Another well-known name gone from the High Street.

[dgilbert2]

Always sad to see another big name in trouble on the high street. Surly though, they did not do enough to keep up with the latest trends and enter the <now establised> streaming market. Hard to see what a business case is these days for this type of highstreet shop though.

[TallTrees]

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@dgilbert2 wrote:

Always sad to see another big name in trouble on the high street. Surly though, they did not do enough to keep up with the latest trends and enter the <now establised> streaming market. Hard to see what a business case is these days for this type of highstreet shop though.

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Such a "cushy number" (sorry for the pun) for so long

they forgot to move on 

[dgilbert2]

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@TallTrees wrote:

Such a "cushy number" (sorry for the pun) for so long they forgot to move on 

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Management arrogance of not listening, or being tuned in to its customers!?