Monday, March 2, 2015

England's Music Retail Outlets Actually Growing In Number

HMV Music Store image
While music retailers in the US are getting more and more scarce, just the opposite is happening in merry old England. In fact, the number of retail outlets are up 20% from last year!

It's hard to believe that the UK now has 10,391 retailers selling music physical products, as compared to only 4,206 in the US, according to IBISWorld market research. And this from a country that has about a fifth of the population.

Even though there's more places to buy CDs and vinyl, that doesn't mean it translates into increased sales. In fact, physical product sales in the UK were down 5% last year. Just as a comparison, US physical sales were down 14%.

What that seems to indicate is something that many in the industry (including myself) have been saying. If music is more available, then there's more opportunity for an impulse or gift buy.

That doesn't mean it would stem the tide of digital music services, but it could slow it down a bit, just like in the UK.

Nonetheless, if you're in the US or the UK, cherish your local music retailer and do your best to keep him in business. You may regret it someday when he's not around.

You should follow me on Forbes for some insights on the new music business, Twitter and Facebook for daily news and updates on production and the music business.

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