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Old dog, new tricks. Is music on the high street really dead?

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High street music stores have suffered greatly in recent years. HMV is now the UK's only nationwide music retailer. But the format seems tired. What does HMV need to do to revitalise the record store?

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Old dog, new tricks. Is music on the high street really dead?

  1. 1. Old  dog,  new  tricks Is  music  on  the  high  street  really  dead? Mark  Ralphs,  2  July  2014
  2. 2. Brand / organisation AudienceTechnology Me
  3. 3. Digital  album  sales  and  streaming   boosted  total  digital  revenue  in  2013   to  £365m,  up  from  £326m  in  2012. Total  revenue  from  sales  of  physical  CD   albums  and  singles  and  music  videos   was  down  6.4%  at  £365.4m. Streaming  revenue  increased  by  41%,   bringing  total  UK  revenue  to  £730.4m. This  was  the  first  growth  in  overall   revenue  since  2009. BPI,  UK  2013  music  sales
  4. 4. iTunes  is  the  dominant  force  in  digital   music,  and  HMV  will  need  to  challenge   this  supremacy  if  it  wants  to  succeed  in   the  long-­‐term. Laurie  Krohn,  Kantar  Worldpanel
  5. 5. 62% 38% Yes No Is  the  tradiVonal   record  store   finished?
  6. 6. Online  clearly  has  to  be  part  of  the   ‘new’  HMV,  but  the  store  experience  is   also  likely  to  be  near  the  top  of  the  to   do  list.  The  stores  have  lacked  the  level   of  fizz  and  excitement  needed  to  enVce   entertainment  lovers  through  the   doors.   Retail  Week  
  7. 7. The  world’s  best  music  store
  8. 8. Events.  Experience.  Gigs  by  young  and   emerging  arVsts  and  musicians  of  all   genres.   Louie  Chow  
  9. 9. Put  in  some  comfy  seats  and  coffee   making  faciliVes.   Lauren  Dye  
  10. 10. Create  an  experience  with  regular   events.  Brick  and  mortar  stores  will   eventually  die  out  if  they  don’t  invest  in   creaVng  an  experience  for  their   customers.   Vicky  Lyashenko  
  11. 11. Create  a  visually  connected  by  separate   space  for  people  to  hang  out.  Widen   the  aisles  to  make  it  easier  for  people   to  stand  together  and  talk  music   without  blocking  the  passage  or  feeling   crushed.   Mark  Mitchell  
  12. 12. By  hiring  kind,  knowledgeable,  open-­‐ minded  and  enthusiasVc  employees.   Human  in  Training  
  13. 13. Free  weed.   Daniel  Hoffman  
  14. 14. Create  an  experience
  15. 15. It  is  hugely  important  that  HMV  widens   its  perspecVve  and  creates  a  shopping   experience  that  Vcks  all  the  right  boxes   in  terms  of  interacVvity  and   personalised  service. Dan  Wagner,  mPowa
  16. 16. Brand Audience Technology
  17. 17. Thank  you  and  goodnight. @markralphs mark@bloomworldwide.com

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