Growth of 8.5 percent achieved for the 2011 holiday season
TORONTO, Jan. 25, 2012 /CNW/ - HMV Canada reports its best holiday
season performance in over 5 years, attributing its success to sales of
DVDs and CDs - with unit growth on comparable stores of 24.7 percent on
DVDs and 0.5 percent on CDs, as compared to the same 13-week period in
"We have achieved record market share during Boxing Week with CD sales
at 47 percent," says Nick Williams, President of HMV Canada. "With one
in every two CDs sold in this country, this reinforces the fact that
our customers still love to buy physical music along with movies, and
that hmv Canada is still their personal and gift-giving destination."
"The market for physical music in Canada remains strong, with more than
74 percent of all albums sold as CDs this past year," says Williams.
"For many, the physical format provides more value and features -
superior sound quality, artist liner notes and bonus content, to name a
few - all important factors when building one's own music collection."
For example, Williams continues, "Adele's 21 was the most successful
release of 2011 with sales of 970,000 units in Canada alone. CD sales
of that release represented more than 77 percent of the total number -
proving that the physical CD is still by far and away the largest
proportion of sales made in this country. For DVDs, HMV Canada doubled
market share for the week following Christmas and still remains the
retailer that can meet the needs of all film and TV enthusiasts."
HMV Canada's successful holiday sales results build on the growth from
its recent summer campaign, which offered single price points for CDs
and DVDs. Customers responded enthusiastically to the simple and
attractive price points.
Williams adds, "Despite double digit growth in retail traffic and
increased consumer spending, we understand we must continue to look for
ways to develop and enhance our offering to customers. Although we are
pleased with our holiday season sales results, we are not complacent in
our success and will continue to evolve the brand to meet consumers'
HMV Canada continues to anticipate its customers' consumption habits
along with industry trends. To complement its existing sales model,
HMV Canada will launch a new digital streaming service in May 2012.
The streaming service is designed to augment the existing retail store
portfolio, as HMV Canada is committed to continued support of CDs and
DVDs in the marketplace.
About HMV Canada
HMV Canada's first store opened in 1986, from which it has grown to
become a Canadian entertainment market leader with 114 stores from
Newfoundland to British Columbia, as well as the hmv.ca website. HMV
Canada is an innovator in its market, launching in 2009 hmvdigital.ca,
a digital music store offering over 10 million MP3 tracks for download,
and in 2010 the HMV pure customer rewards program, which has attracted
over 800,000 paid cardholders. HMV has been named Canadian Music
Retailer of the Year for the past 20 years, and has also been
recognized as the Canadian Entertainment Network DVD Retailer of the
SOURCE hmv Canada
For further information:
Geoff Vokes/Lori Cooper - elevator communications inc.
416.363.6444 x 233/221