HMV UK stores go into administration on 28th December 2018 with KPMG appointed as administrators to HMV Retail Ltd and HMV Ecommerce Ltd. HMV operates 128 stores across the UK including 9 which operate under the Fopp brand. The administration which is the second time in 6 years puts 2,200 jobs at risk and is the latest in a series of UK retail failures in 2018 which have included House of Fraser, Poundland, Toys ‘R’ Us and […]
HMV closes its Hong Kong stores giving the growth of streaming and the decline in physical sales as the main reason for the decision to wind up the business. HMV Digital China Group Ltd, the ultimate owners of the stores, applied to the Hong Kong Stock exchange to wind up HMV Marketing Ltd (HMV Retail) on the 18th December 2018. In its winding up petition the company declared that the revenue generated from HMV Retail […]
On-demand streaming in the US rose by 45% during the first half of 2018 according to market researchers, Nielsen, in their Music Mid-Year Report. Total album equivalent consumption*, which includes physical and digital album sales, song sales and on-demand audio and video song streams are up 18% during the same period. On-demand song streaming activity reached new milestones, with volumes surpassing 400 billion, offsetting declines in album and track sales. On-demand audio streaming volume was […]
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