HMV chairman predicts resurgence will see it ‘soon overtake Amazon’


albums1




Chairman Paul McGowan has claimed it is now ‘only a matter of time’ before HMV overtakes Amazon to once again become the UK’s leading entertainment retailer.

HMV almost went to the wall at the start of 2013 after years of struggling to adapt to the digital market’s ever-tightening grip over music lovers’ buying habits, and was forced to sell off scores of high street shops upon entering administration.

However, restructuring company Hilco brought 144 sites back under HMV’s control soon after, and returned the flagship store to its original Oxford Street address whilst also encouraging shoppers back into its high street outlets with more instore performances and signing sessions.

McGowan is delighted with the overall improvement in HMV’s fortunes during the past 10 months, and has told the Telegraph: “It’s only a matter of time before we overtake Amazon. HMV is re-engaging with music shoppers and getting them back into shops. This is about being an authority in music, not selling music as a commodity.”

According to the paper, HMV’s yearly like-for-like sales have increased by 13.8%, with a 21% boost in CD and vinyl.


Learn More




Tags: