BUS P3 MUSIC (Different businesses in the UK music retail market: independents and multinationals) Flashcards
(8 cards)
What is an example of an independent music retailer in the UK?
Rough Trade, known for its focus on vinyl and independent artists, with over 4 stores across the UK and US.
How do independent music retailers like Rough Trade differentiate themselves?
They offer curated selections, focus on vinyl and niche genres, and support emerging artists through in-store events.
What is a major multinational music retailer operating in the UK?
HMV, with over 100 stores across the UK, operating both physical shops and an online store.
How has HMV’s business model changed in recent years?
HMV has shifted focus towards vinyl sales (which grew by 56% in the UK in 2023) and live in-store events to attract customers.
What role do online platforms play in the UK music retail market?
Online retailers like Amazon UK contribute to about 30% of music sales, providing both physical products and digital downloads.
How do independent retailers compete with multinationals?
By offering unique, community-focused experiences, supporting local artists, and specializing in collectible formats like vinyl.
What impact does streaming have on UK music retail businesses?
Streaming has reduced physical sales overall, but vinyl and merch sales from indie retailers have grown as fans seek tangible music experiences.
Name an example of a digital platform supporting UK independent artists?
Bandcamp, which saw UK sales increase by over 30% in 2023, allowing artists to sell directly to fans.
