HMV: Retail Gets Physical
HMV has returned to form as UK’s largest physical musical retailer. Figures from retailing data analyst Kantar Worldpanel suggest the retailer has increased its share of the physical entertainment market by 3.1% generating 41,000 new customers in the 12 weeks to September 25th.
Kantar Worldpanel’s strategic insight director Fiona Keenan, said: “HMV’s growth has been driven in large part by its success with several big music titles: two thirds of all sales of the critically acclaimed debut album from Christine and the Queens came via the retailer, and HMV also benefited from the ongoing success of Adele’s 25. A full year after its release, Adele’s 25 remains the top-selling artist album in the charts. It was also HMV’s bestselling album in the past 12 weeks, with the retailer capturing 29% of all sales”.
The Now franchise produced the bestselling album in the latest quarter with its 94th iteration. Artist albums accounted for 78% of the physical music market with Adele, ELO and Coldplay taking the three top spots.
The games market continues to struggle in the face of ever-increasing competition from digital: sales of digital games grew by 12% in the latest quarter, now accounting for 48% of the market and almost overtaking physical games in value for the first time.
Since going into administration three and a half years ago, HMV has only reached a share this high once before. That instance was earlier this year when performance was boosted by its January sale.
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