CIMS Weekly Chart
Week Ending 2/2/2018
Well, it has certainly been a couple of bad weeks for physical music retail news. First, an announcement of layoffs in the physical sector at a major distribution company. Then Best Buy announces that it will soon be out of the CD business. And now, Target is attempting to go to a consignment model, which if it happens will create chaos in the market as other retailers pursue the same terms.
It’s ironic because the day of the Best Buy announcement I got my own store's month-end reports to discover that our CD sales were up significantly over the same period last year. Yes, that’s right--independent retailers are still in the CD business. Despite the fact that some pop artists are ignoring physical products (much to their detriment) indie retailers remain champions of both physical formats.This is how it has always been, even as the industry embraced the big boxes with the bulk of their promotional dollars we trudged on supporting both developing artists and superstars. I think we were all aware that if the music business got tough, the boxes would be the first to abandon the industry. And now as every artist, label, and distribution company tries to beat each other to the latest pre-order direct to consumer campaign, we continue to support your artists by being the real boots on the ground, which results in real income for the entire supply chain and especially for the artist.
Now more than ever, it's time to support independent music retail.
Coalition of Independent Music Stores
The Record Exchange
1105 W. Idaho Street
Boise, ID 83702
208.343.0107 x3 office