Declining consumer spend on physical music has forced the demise of many traditional bricks and mortar record stores. For the music industry, question marks remain about how, and even whether, the revenue generated by digital music can offset this loss. Rather than fighting this, the music industry first needs to ensure that the remaining retail consumers don’t drop out of its customer base altogether.
High street closures
The first album I bought was Happy Nation by Ace of Base. Yeah, I know. The format I bought it on – cassette – hasn’t aged any better than their distinctive (and, some would argue, inimitable…) brand of Swedish pop-reggae. And now, it looks like the record shop I purchased it from might be taking a similar slide into the field of “ha, remember them?” obscurity.