12/06/2015
*An inside view of the HMV administration if you're interested.
From: Martin Elbourne
Sent: Wednesday, 16 January 2013 12:19 AM
For those of you who didn't get my email last night, HMV, the last music store chain in UK and Ireland has gone into administration.
It does not affect the Great Escape as there was a management buyout a month ago.
It does affect 230 shops and 4,000 staff.
And 40 per cent of the physical music market in the UK.
And much higher proportion of the many acts who never get near a supermarket shelf.
For what it's worth, this is my prediction of likely outcome - a new HMV with more like 50 shops.
Most if not all of independent distributors to go bankrupt.
Virgin France (no 2 in France went under recently..Fnac the biggest in France, Spain, etc. about to as well.)
If you are owed money by an independent distributor in Europe budget not to get it.
Of course will be knock on effect on indy labels...many will go under.
Pias..who distribute Adele, not been paid since September (they are
strongest.)
Be prepared to write off money...renegotiate deals.
Any artist who relies on sales in Europe preparing to record 70 minute CDs is a moron now.
Those days are gone...big time.
Which I think is no bad thing.
In fact, apart from obvious bad news for employees, small companies, long term..
Much more level playing field.
In short, will be s**te year followed by good healthy things.
Later Martin
