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Business News Digital HMV Timeline Retail
HMV to launch MP3 store this month
By CMU Editorial | Published on Friday 5 September 2008
HMV has announced it will launch its MP3 store later this month, meaning the high street reseller will start selling music online in the DRM-free, iPod compatible format rather than that useless WMA format. Which is nice.
As previously reported, 7Digital are also expected to announce they now have music from all four major record companies available via their MP3 download service later this month – just 9 months after the last of the majors confirmed it would start making its content available without digital rights management technology embedded. Speedy.
HMV announced its digital plans in a trading update to precede its Annual General Meeting. They also announced sales growth of 4.3% in the UK and Ireland, and 2% globally, though that was primarily through the sale of games and technology rather than music or even DVDs. They also confirmed another of their ‘next generation’ stores would open this week, in Liverpool, their biggest new look store to date.
Chief Executive Simon Fox said this: “In what is, undoubtedly, a tough consumer environment, the solid start made by the group to the new financial year means that our plans are in line with the board’s expectations, and I remain confident that our strategic initiatives are on track. As we approach the peak selling period, our focus is on continuing to provide our customers with the very best offers, from what is shaping up to be a strong line-up across all product categories for Christmas”.
