As the last British record store giant faces insolvency, UnderSong looks at what this could mean for the future of the music industry.
“Last night a very sorry story started circulating online: that the British chain HMV was to go into administration. The news itself was not surprising: the company’s financial woes have been widely reported for such a long time now that it seemed to be a question of “when?” not “if” the chain would collapse. To be honest, even taking the economic climate out of the equation it’s really not hard to understand why this is happening. In general more and more people are turning to the internet to shop rather than braving the ugliness of the Great British High Street ‘pon a weekend, and who could blame them?
As a teenager, my go-to place to buy music was HMV (hello, Sutton branch). I’m horrified to admit that this was before the concept of downloading even existed. What I remember from those days is that most of the other clientèle there would be older men and other teenagers. Even without doing any research I can tell you that if the teenagers I know are representative of today’s teenagers as a whole, then they download everything. Some legally, some not so legally. CDs are an alien concept to them. Then there’s the obvious link between the old men-not-liking-shopping stereotype and the advent of the internet and downloading. So, common sense alone says there goes many of HMV’s primary customers.”
Read the full article here.
Originally published on UnderSong on 15/01/2013