Virgin and HMV boost investment in download market

Virgin and HMV boost investment in download market
December 29, 2004

Financial Times.com: Music stores including Virgin and HMV plan to increase their investment in the download market in order to recoup some of the music sales lost to Internet piracy and supermarkets.

CD sales at HMV have declined from 62 percent to 46 percent, according to evidence compiled by Sony and BMG.

Specialty music retailers' share of the album music market fell from 52 percent in 2001 to 47 percent last year, while supermarkets' share increased from 15 percent to 22 percent.