HMV [under]statement

Simon Fox of HMV is quoted all over the place in today’s papers, talking about recent poor performance and his 3 year plan to turn HMV around.

“Waterstone’s and HMV are great brands but have not adapted quickly enough to the way customers are now buying and consuming media.The markets and the way we operate are both challenging and undergoing structural change. We have to address this with urgency”.

Quick reminder – the original Napster launched on June 1st 1999, nearly eight years ago. I can’t believe people are having the same conversations about the future of the music industry and the “urgent” need to address it.

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