Monday, May 1, 2017

Episode 18 - HMV Canada is Bankrupt: What's the future of retail music stores in Canada?

LISTENER SUGGESTED TOPIC: The closing of HMV in Canada.

The closing of HMV in Canada was a devastating loss for music lovers.  The final song, however, has been playing for quite some time.  Digital music downloading gained popularity year over year for more than a decade, and the old “bricks and mortar” stores never truly answered the success of companies like Apple with their iTunes online music store.  Digital downloads became the primary revenue stream for recorded music globally in 2015, overtaking the physical sales of albums and CDs.  Some retailers saw this inevitable change and adapted, but HMV did not get the right business mix, and is no more.

In this show we examine the effect of HMV closing on the Canadian retail music scene, reminisce about our favorite HMV memories, and look at how other retailers are filling the void.  How does Sunrise Records continue to grow their physical store presence despite the shift to digital downloads for pop music? Why have book retailers not been crushed by digital book downloads, and is the comeback of vinyl records the saving grace of music retailers in Canada?

All this and more in another fantastic episode of “Crew Roundtable”!

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