HMV on song amid music industry discord

Robbie Williams has gone on strike, illegal downloads still abound and EMI is slashing thousands of jobs. The UK music market, traditionally one of the most resilient in the world, is having a torrid year. But one of the world's best-known music retailers said today that the record industry's gloom is overdone. The HMV boss, Simon Fox, sees the year ahead being even stronger thanks to new albums from popular artists such as U2, Madonna, Kasabian, Keane and Dido. (The Guardian)

HMV enjoys record Christmas

The retailer, which runs Waterstone's bookstores and music shops under its own name, reported group like-for-like sales growth of 9.4 percent in the five weeks ended January 5 -- its highest figure since it floated in 2002. The group was boosted by demand for DVDs, games, cookery books and albums by Leona Lewis and Amy Winehouse. It outperformed the market in music sales -- an industry that has been hit hard by Internet piracy and digital sales -- and Chief Executive Simon Fox attributed this to the experience of his staff, in spotting and promoting good music. HMV announced a three-year turnaround plan in March last year, introducing "interactive" HMV stores and promoting online sales aimed at tackling competition from supermarkets and Internet retailers. (Reuters)