UK streaming income increases by a third in 2018 boosted by surging streaming subscriptions according to the BPI’s new yearbook, All About The Music 2019. UK recorded music revenues are up by over 20% in the past 3 years with 3.1% growth in 2018 boosted by a continuing surge in streaming, the enduring appeal of vinyl and growth of sync. 2018 highlight numbers UK recorded music revenues up by over 20% in 3 years 3.1% […]
Entertainment subscribers overtake buyers in UK as new digital services are turning the UK into a country of subscribers rather than entertainment buyers as music follows video and games to become a majority ‘rental’ market for the first time, according to figures in the latest Entertainment Retailers Association (ERA) Yearbook. Revenues for paid-for music subscription services rose 38% in 2018 to £829m and now account for 62% of total recorded music revenues. Ownership formats like […]
Will it be third time lucky for HMV as the administrators KMPG announce that Sunrise Records, a Canadian firm that bought Canadian HMV stores, will buy the collapsed retail chain out of administration. The deal will result in 27 stores closing resulting in 455 redundancies but save 100 stores securing 1,487 jobs. HMV’s flagship Oxford Street store in London, opened in 1921, is among the 27 outlets set to close. Sunrise Records chief executive Doug […]
HMV UK stores go into administration on 28th December 2018 with KPMG appointed as administrators to HMV Retail Ltd and HMV Ecommerce Ltd. HMV operates 128 stores across the UK including 9 which operate under the Fopp brand. The administration which is the second time in 6 years puts 2,200 jobs at risk and is the latest in a series of UK retail failures in 2018 which have included House of Fraser, Poundland, Toys ‘R’ Us and […]
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