Vinyl Sales are at a Record High. And so is HMV’s Business Performance.

hmv(get-closer)-logoYou might not be aware of this but the late John Peel, the legendary BBC broadcaster and DJ, was a former computer programmer who worked for an American insurance company in the 1960s writing code for an IBM 1410.  With his love of music, no doubt he’d be very pleased but vinyl is back.  Sales are up big time. According to the Guardian, the analogue format outstripped digital downloads in the UK from the first time in history.  Why?  Some argue you get a nicer sound from vinyl versus the clinical reproduction on CD or MP3 and people love tangible things to give as presents or collect to demonstrate they are true fans rather than just an entry on a play list.

HMV, the UK’s largest retailer of physical music, say record players are selling well and their vinyl sales are up 200% such that a major business expense at the moment is reinstating all the racking for albums which was ripped out of stores in the ‘noughties.’ Which leads me directly to the point about this blog post.  After a few torrid years, HMV is now financially profitable having been purchased by Hilco Capital in 2013.  Revenues total £400m. HMV is now reinvesting in IT to drive its business forward and support their 129 stores throughout the UK.  They’ve just completed a project to install 760 IGEL UD2 terminals. Read the press release here and why not nip out to one of their shops and buy the new Rolling Stone’s album, Blue and Lonesome? It’s, of course, available on vinyl.

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