Feb 5, 2019

HMV buyer shifts focus to vinyl and back catalogues

The last album that Doug Putman bought was Supertramp's Crime of the Century, released a full decade before the buyer of HMV was born, and featuring the hit song "Dreamer". Mr Putman's plans for HMV - his Sunrise Records group bought 100 of the chain's 127 UK stores out of administration in the early hours of Tuesday morning - are still being formulated. "We are not planning on that decline continuing. We are confident we can stabilise the business," said Mr Putman, pointing out that HMV Canada, acquired direct from Hilco in 2017 when it was losing C$100,000 a day, "Moved into profit within a year". The Entertainment Retailers Association said it was "Confident that HMV staff, suppliers and customers are in great hands with Sunrise". HMV accounts for approximately a quarter of the physical music market and a third of the video market.

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