Many people are still feeling the pain of HMV’s bankruptcy; for those who remember life pre-downloads, walking in to a record store was always a highlight for music and non-music fans alike.
Well, after last week’s demise, there could be some good news on the horizon. BiS have heard that both labels and film studios alike are eyeing up on ways in which they could help the retailer still exist in today’s download-centric world.
The behemoths within the entertainment industry (Warner, Sony & Universal) are potentially looking to consider incredibly generous credit terms to the struggling retailer, as well as slashing the price of DVDs & CDs at wholesale. Combined this should help HMV co-exist at the same RRPs (if not less) than the likes of Amazon and the big supermarkets out there.
We hope there could be some light on the end of the tunnel. Not only will the closing of HMV’s 223 stores help erase memories of in-store buying, but also the thought of over 4,000 jobs being lost will have a further devastating impact on the already-fragile UK economy.
Fingers crossed the top dog will return!