Has Musicland Outlived Its Usefulness?
Best Buy's recent announcement that it was seeking to unload
its Musicland businesses is perhaps the most vivid
illustration of how the emergence of digital music is
impacting the music industry. While the company partially
credited the decision to "continued slowdown in traffic in
traditional shopping centers nationwide," the declining
prospects for CD sales in the long run appear to be the
primary driver to unload Musicland.
On the other side, Best Buy stores, though hit as everyone
by consumer weariness and an impending recession, have
faired relatively well as digital technology, from DVD & CD
burners to portable devices used to enjoy digital media,
continue to entice consumers. This illustrates the
progressive migration from a primarily one-product market,
the CD, to a multi-product, multi-platform marketplace where
excitement shifts from the actual entertainment product to
the multiplicity of features, functionalities and
interactivity made possible by digital technology.
This means that the music industry will increasingly become
dependent on the tech industry & its retailers to push music
to fans and buyers, much as it has been on broadcast radio &
cable music TV. Best Buy, not Musicland, is in fact the
music industry's best ally in educating consumers and
demonstrating the attractiveness of today's legitimate music
services. And as for Musicland, have I ever told you the
story of the horse-&-buggy?
Related News from Mi2N:
» Best Buy Actively Marketing Musicland Businesses
follow MusicDish on