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Large Music Retailers Dropping Like Flies

08 June, 2008
By: fiona
Filed Under: industry

Yet another large retail music store is shutting its doors. The Times Square Virgin Megastore is closing down, following the demise of the HMV chain, the Tower Records chain and other Virgin Megastores.

It's now being said that independent retailers will benefit hugely from this,
"The major labels and impersonal chain stores are together collapsing under the weight of their own excesses, but it is interesting to see the swing back to independent retail."

I'd really like to see the independent retail figures spike with the closure of "big business" but couldn't it also mean that people are using online downloads instead of stores altogether (i'm counting both legitimate (ie, itunes) and illegitimate (p2p) sources..)

I know myself, that I'd much rather buy from an independent store than from a large chain, but somehow I'm thinking that independent retailers aren't immune from closing down as well (yeah, I know, apparently Skinny's has reopened, but their website is still down and I don't get into the city often to see for myself...)

Anyway, it's an interesting read, even if it seems to be a little rose-coloured for independents, see the full article here.

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