One of the high street’s most-loved music stores has gone into administration again. The hmv brand, made famous by the iconic image of the ‘dog and trumpet’ trademark featuring ‘Nipper, is practically synonymous with the very history and development of British popular music and culture.
HMV fell into the hands of administrators at KPMG
2,200 staff affected at 125 stores
Is ‘extremely weak Christmas footfall’ to blame?
Or the change in consumer buying habits in the UK Market
In 2013 HMV was saved by Hilco but can it be saved once again?
Is HMV another victim of the high street and online streaming?
Unfortunately in a world where many people download their music to Spotify. Where Netflix is dominating the TV and Film market, with other sales going to Amazon or Sky. Less people have been buying on the high street.
Looking back on 2013
I worked with HMV when I partnered with them to promote the MTV Europe Music Awards in all of their retail stores and online. HMV was not just a music retailer. HMV positioned itself to be an ‘entertainment superbrand’. Hosting many music stars who played in store. HMV was poised to dominate the music market; music, festivals, films, gaming. In 2009 the purehmv loyalty scheme was rolled out.
Back in 2013, HMV fell into administration. Much criticism came from HMV not embracing digital quickly enough during HMV’s first retail crisis.
Company Hilco came to the rescue and acquired HMV back in 2013. Stores were left open, something I didn’t think was feasible. HMV kept selling.
According to Rory Cellan-Jones in an article for the BBC, “it seemed to go quite well for a while, with the flagship store on Oxford Street re-opened and HMV overtaking Amazon in 2015 as the biggest seller of physical music in the UK”.
“Even an exceptionally well-run and much-loved business such as HMV cannot withstand the tsunami of challenges facing UK retailers over the last 12 months on top of such a dramatic change in consumer behaviour in the entertainment market.”
Paul McGowan, executive chairman of HMV and its owner Hilco Capital
Checking hmvtweet we can see that they have a great catalogue of CDs and films on offer. My brother bought lots of classic films at Christmas from HMV. However when was the last time you bought yourself a CD or DVD from what was one of our all-time favourite music stores?
Gift cards/ HMV points
Our advice is to spend your gift vouchers – if you still can. However it looks like people are unable to redeem their points online. The HMV website is saying that it’s under maintenance, but we will update this article as soon as we find out more.
Reaction to HMV news on Twitter
Hoping the Marketing Director has access to Twitter:
One of my favourite social media scandals to date. During the last HMV collapse, one social media manager gave us a live account of what was happening at Head Office.
As stated in the tweets, “Under usual circumstances, we’d never dare do such a thing as this,” they said. “However, when the company you dearly love is being ruined … and those hard working individuals, who wanted to make hmv great again, have mostly been fired, there seemed no other choice.”
With a career in social media marketing, I watched the drama unfold in absolute shock and awe. The online trolling was either going to be a career #MakeOrBreak move on her part. Thankfully, according to her brother she is doing well.