The one-time giant of music sellers HMV today announced huge losses and admitted that there are “material uncertainties” about what’s going to happen to the company in the future.
The store has been hit by the triple-whammy of customers using online shopping for better bargains, illegally downloading music and also buying less due to the recession, leading to a 13 per cent drop in sales in the past two months alone. Yesterday, a ruling against eircom’s ‘three strikes’ anti-online piracy system was described as a “massive blow” to the music industry.
A large number of independent record stores closed in Ireland over the past year as they struggled to compete with these pressures.
So today we’re asking: do you still shop in record stores?
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