Music giant HMV is on a comeback just a decade after collapsing into administration as young music lovers give up streaming in favour of vinyl and physical media, one of its bosses has claimed.
Phil Halliday, managing director of the firm, says that Generation Z is helping the once-ailing firm recapture its spot as one of the High Street’s most recognisable and dependable shops.
There has been a resurgence in the popularity of vinyl – with record sales in that format hitting record numbers for the 21st century last year – which comes as many suffer from ‘streaming fatigue’.
But it is this, combined with more demand for CDs from the ever-growing audience of K-pop and J-pop fans, as well as a surprising surge in cassette sales, that Mr Halliday says has left HMV ‘really optimistic’ about the future.
The company, once forced to close stores and lay off staff, is even planning an ambitious expansion into Europe and Canada as a result of bumper sales.
HMV managing director Phil…