27 HMV stores are planned to close and Alan Rowett says it’s due to HMV becoming outdated: “CD and DVD sales have absolutely plummeted and unfortunately they hadn’t changed their business model.”
“People are mainly streaming now by Spotify and YouTube, things like Amazon Prime and Netflix have absolutely decimated the DVD market.”
He added: “If they’d actually woken up to how the industry and how people were were buying their things about 8 to 10 years ago, they wouldn’t have been in that problem.”
The HMV chain has been taken over by Canadian retailer Doug Putman. In this deal 100 HMV shops with stay open but 27 stores will close, including those in prime locations and the first ever store on London’s Oxford Street.
However, Dorset’s two HMV branches, Bournemouth’s Avenue Centre and Poole’s Dolphin centre are set to remain open.
Bournemouth shoppers shared this opinion when discussing the last time they went to HMV:
Photo by: Rept0n1x
Mr. Rowett said the industry is changing and there is now more interest in the growing Vinyl market. He explained: “There’s a revival. I think it’s because they’re something to own. You’re buying the whole concept of a 40 minute piece of work.”
He added: “HMV have dipped their toe into vinyl, they’ve never really exploited it. Now the new guy who’s taken it over has said vinyl’s the future. Which is good for them, probably not so good for us, because that’s the hole that we fill.”
Listen to the full interview below: