Abstract
Features:
- Profile 1: Grimey' s
- Profile 3: Luna Music
- Lessons for Online Music Providers
- Profile 2: Criminal Records
- Competitive Positioning
- Lessons for Music Retailers
The collapse of Tower Records this month sent shock waves through the music
industry. Elsewhere, UK-based HMV has been struggling for some months to find
a strategy capable of delivering sustainable growth. Previously recognised as
strategically challenged, it now seems as though the music retail sector is
lost without a compass.
But surely it can' t all be bad news? After all, even in a distressed sector
there are often pockets of excellence - companies that are doing well and
whose success formula contains important lessons.
To find such companies and identify what can be learnt from their success, we
looked at the other end of the music retail spectrum and talked to three indie
music retailers in the U.S. who are not only doing well, but are thriving.
This report pinpoints the retail formula which is behind their success. The
report not only clearly demonstrates how music retail can still be successful
- and how it can remain a viable business - but also provides valuable
lessons for those setting up online music ventures, be they based on music
discovery, community or retail.
This report contains information supplied via interviews with three U.S. based
independent music retailers (Grimey' s, Criminal Records, Luna Music) and the
National Association of Recording Merchandisers (NARM), the U.S. trade
association which serves U.S. music retailers.
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