Holiday season highlights lead with new digital streaming service and strong core product performance with one of every two CDs sold this Christmas coming from hmv Canada's stores
TORONTO, Dec. 13, 2012 /CNW/ - With just two weeks to go until Christmas, hmv Canada, Canada's premiere retail destination for music and entertainment, announced today that the holiday campaign, "It's What They Want," is achieving plan and providing the company with exciting momentum to close out 2012. The campaign, which began on November 5, is focusing on delivering to consumers the season's most sought after music, movie and entertainment products.
Leading the news this holiday season is the launch of The Vault, hmv Canada's new digital subscription based streaming service that gives Canadians another way to access the music they love. By visiting www.inmyvault.com, Canadians can sign up for a free two-week trial and experience the ease of listening to millions of tracks on their computers or mobile devices.
"2012 has been a great year for our business as we've worked hard to leverage our brand to develop our in-store value proposition and find new ways to connect with Canadians," said Nick Williams, President and CEO, hmv Canada. "Our plan is clearly working. Music and film are holding strong and there is a significant increase in new income streams such as Gifts and Collectibles, T-shirts and headphones. As a result, we are on track to achieve our year-end sales targets of $270 million, with December alone accounting for more than $65 million, and trending ahead of our 2012 profit targets."
According to Nielsen Soundscan, CDs account for approximately 65% of the music market in Canada, while DVDs are even higher at 95%. Further, hmv Canada reports, one out of every two CD's sold this Christmas will take place through an hmv Canada store.
Williams continued: "We are performing strongly because the market in Canada still supports CDs and DVDs. The holiday season has been a valuable opportunity for us to build on the year's momentum, drive growth in our business and further validate our role as Canada's leading specialist entertainment retailer. A terrific release schedule, combined with our in-store promotions and the launch of The Vault, is empowering customers to consume music and entertainment when, where and how they choose. Needless to say, we are achieving key milestones from our 2012 holiday plan and we look forward to carrying this momentum forward into 2013."
Across hmv Canada's more than 100 retail locations, new music from acclaimed artists such as Bruno Mars, The Game, Alicia Keys and Ke$ha, along with blockbuster hits such as The Dark Knight Rises, TED and The Bourne Legacy have anchored the holiday campaign. Additionally, hmv Canada's pop-up stores are playing a key role in broadening hmv Canada's offering to Canadians by giving them even more access to the industry's deepest catalog of music and collectibles.
Finally, hmv Canada plans to end the holiday season with a bang through value add Boxing Day offerings. And, of course, customers will continue to have the opportunity to receive their free two week trial to The Vault, giving them the perfect opportunity to build the right playlists for their New Year's parties.
About hmv Canada
hmv Canada's first store opened in 1986, from which it has grown to become a Canadian entertainment market leader with 113 stores from Newfoundland to British Columbia, including flagship locations in Toronto, Edmonton, and Montreal. hmv Canada is an innovator in its market, launching in 2009 hmvdigital.ca its digital download music store, in 2010 the hmv Pure customer rewards program which has attracted over 1.2 million paid cardholders, and in 2012 the subscription based music service The Vault which gives users unlimited access to millions of songs on their personal computer or mobile devices. 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 Year. In July 2011, Hilco acquired hmv Canada from the UK's HMV Group plc.
SOURCE: HMV Canada Inc.
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