HMV to Close All 102 Stores

[troutman]

Sunrise Records to Take Over 70 HMV Locations

http://exclaim.ca/music/article/sunr...mpaign=fbpwall

Ontario-based chain Sunrise Records has negotiated contracts with mall landlords to take over the leases on 70 HMV locations across Canada. Launched first in 1977, Sunrise currently operates nine stores in Ontario.

The move could be considered a risky one, given that HMV's closure has been chalked up to "the constant and significant shift in the way media is consumed by customers."

Furthermore, Sunrise Records has extended an invite to the 1,340 HMV employees who will soon be out of work to apply for the 700 positions that will be available at its new locations.

So far, agreements have been reached for locations in Edmonton's West Edmonton Mall, Burnaby's Metrotown location, Winnipeg, Hamilton, Mississauga and Saint Bruno, QC. There were about 30 locations (including Toronto's Yonge and Dundas Superstore) at which Sunrise were unable to reach a deal with landlords. A more extensive list of new locations is expected to be announced once lease negotiations have been finalized.

[Northendzone]

I wonder what sunrise figures they can do that hmm could not.

From a business point of view that is a massive expansion for sunrise to go from about a 100 or so employees and absorb a new 700.

Hopefully this works out for sunrise

[Johnny Makarov]

Originally Posted by Northendzone

I wonder what sunrise figures they can do that hmm could not.

From a business point of view that is a massive expansion for sunrise to go from about a 100 or so employees and absorb a new 700.

Hopefully this works out for sunrise

Even if they got free rent this is like a deathwish for them. No. More stupid funko pop figures won't save your business!

[Resolute 14]

From nine locations to 80. This is not going to work out well for Sunrise as it is dramatically unlikely they are even capable of scaling up like that.

Some SAP salesperson is licking his lips right now in anticipation of sewering another unwitting victim.

[Looch City]

Another Target-esk failure in the making...

[Fuzz]

Remember Target? This is going to go about as well for them, if they are lucky.

[KTrain]

This will not work out well for them.

I love the idea and look of records and have about 20 of them myself but they're not a product that will be able to sustain the growth in popularity they've had recently. Nostalgia only goes so far. People, like me, who loved them as a kid, will realize the inconvenience of them and go back to digital.

Play 6 songs > Go back to player and flip record > Play 6 more songs > Delicately put it back in the sleeve > Pull out and play next record > Repeat

or

Hit play on the iPhone/iTunes and have hundreds hours of uninterrupted music that can be changed via remote/phone from anywhere in the house.

If their buying power can bring down the prices of new albums significantly you might see some sustained sales but $25-$35 for a new album is ridiculous.

This quote also makes no sense as this is what HMV was before they closed:

In addition to selling CDs and DVDs, Putnam revealed that the company plans to branch out into selling board games, toys and pop culture apparel, as well as an increased focus on selling vinyl. Unlike CDs, vinyl sales grew by 29 percent last year in Canada, shifting 650,000 units.

[Puppet Guy]

[Kjesse]

I'm surprised there was a private equity firm that backed this. Verrrryyyy risky.

[automaton 3]

Holy moly. I could see Sunrise cherry-picking a few choice locations, but 70 stores seems really aggressive. Backed by a vinyl lover with deep pockets perhaps?

[polak]

Sounds like they plan on being exactly like HMV but with a bit of Vinyl too?

There has to be an explanation for this that we're not seeing. How did they raise the capital for this??

[Locke]

Originally Posted by KTrain

This will not work out well for them.

I love the idea and look of records and have about 20 of them myself but they're not a product that will be able to sustain the growth in popularity they've had recently. Nostalgia only goes so far. People, like me, who loved them as a kid, will realize the inconvenience of them and go back to digital.

Play 6 songs > Go back to player and flip record > Play 6 more songs > Delicately put it back in the sleeve > Pull out and play next record > Repeat

or

Hit play on the iPhone/iTunes and have hundreds hours of uninterrupted music that can be changed via remote/phone from anywhere in the house.

If their buying power can bring down the prices of new albums significantly you might see some sustained sales but $25-$35 for a new album is ridiculous.

This quote also makes no sense as this is what HMV was before they closed:

I was thinking the same thing, my wife and I bought a turntable off kijiji last year to play records in our living room, since that time I think we've bought a grand total of maybe 10 records in 2 years.

Why? Because we have a Bluetooth Bose speaker in the same room and I can just play music from my phone in 2 seconds while I'm in the living room.

When I'm cleaning up or just around the house I'm not going to select a record to play, play it, change the disc, etc when I can literally just hit play on my phone and select songs.

[troutman]

I don't understand the vinyl fetish. Why pay 4x the price of a digital record, and for something that is inconvenient, and does not objectively sound better than digital (we had a thread about that)?

[RougeUnderoos]

From the KTrain quote, 650,000 vinyl records were sold last year. That doesn't seem like many to me.

Google tells me that in Canada alone there were 291 million streams of Drake's new album and singles in 2016. That's just one album, and it had ~500 times as many "sales" as every vinyl record by everyone sold in Canada.

I actually buy/collect vinyl, but this seems like opening a chain of horse n' buggy dealerships.

[polak]

Originally Posted by troutman

I don't understand the vinyl fetish. Why pay 4x the price of a digital record, and for something that is inconvenient, and does not objectively sound better than digital (we had a thread about that)?

Especially since probably 1% of the people buying vinyl are audiophiles blowing thousands on gear.

[direwolf]

This is great news for me, as I'm a big fan of vinyl, blurays, etc.. But I'd like to hear more details on what exactly they're going to do differently. If HMV couldn't sustain it, then why do these guys think they can?

[Hack&Lube]

Originally Posted by Locke

I was thinking the same thing, my wife and I bought a turntable off kijiji last year to play records in our living room, since that time I think we've bought a grand total of maybe 10 records in 2 years.

Why? Because we have a Bluetooth Bose speaker in the same room and I can just play music from my phone in 2 seconds while I'm in the living room.

When I'm cleaning up or just around the house I'm not going to select a record to play, play it, change the disc, etc when I can literally just hit play on my phone and select songs.

When I want background noise for working, studying, doing chores, etc. I fire up Spotify on the PS4.

When I want to sit down and actually objectively listen to a piece of music for music's sake (sit on the couch with a coffee or single malt).

It's a completely different thing for me. Instant gratification music or playlists of music just don't do it because I'm too tempted to switch the track or do something else on my electronics. The act of actually choosing a vinyl record, taking it out, setting it up on my 1974 Dual 610 ($15 at Goodwill last year), and watching the 43 year old mechanism pick up the tonearm and set it down on the record and play through the entire side without the temptation to switch tracks or go do some other ADHD thing is fantastic.

That said, HMV vinyl has always been way too overpriced - even with this current 25% off sale. Calgary actually has a very deep retail vinyl establishment. There are a huge amount of stores that sell records and HMV is the highest priced out of all of them (but comparable to London Drugs).

Image too big, not embedded out of courtesy
http://2.bp.blogspot.com/-EZyDqHguEa...0/Dual+601.jpg

[topfiverecords]

Their sign manufacturer:

[Hack&Lube]

I spent $60 at HMV on the weekend with their 25-50% off prices -> went home, and realized Amazon.ca is still cheaper.

What I was buying is 3D Blu Rays. With 3D TVs no-longer being made, this is an experience that might soon disappear from the home entertainment market. I'm still blown away every time I fire up a 3D movie on my 5 year old TV.

[Locke]

Originally Posted by Hack&Lube

When I want background noise for working, studying, doing chores, etc. I fire up Spotify on the PS4.

When I want to sit down and actually objectively listen to a piece of music for music's sake (sit on the couch with a coffee or single malt), I will put on a record.

It's a completely different thing for me. Instant gratification music or playlists of music just don't do it because I'm too tempted to switch the track or do something else on my electronics. The act of actually choosing a vinyl record, taking it out, setting it up on my 1974 Dual 610 ($15 at Goodwill last year), and watching the 43 year old mechanism pick up the tonearm and set it down on the record and play through the entire side without the temptation to switch tracks or go do some other ADHD thing is fantastic.

That said, HMV vinyl has always been way too overpriced - even with this current 25% off sale. Calgary actually has a very deep retail vinyl establishment. There are a huge amount of stores that sell records and HMV is the highest out of all of them (but comparable to London Drugs).

Image too big, not embedded out of courtesy
http://2.bp.blogspot.com/-EZyDqHguEa...0/Dual+601.jpg

Yes, yes and you're an audiophile of some renown.

I am not. If I have a new album that I want to listen to I either play it in my car or while I'm at work.

The last time I actually just sat down and listened to a record/album/disc whatever you want to call it, would probably be.....American Idiot.

The vast majority of my music listening is done as background music while I'm doing a vast multitude of other things.