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Music Marketing Author and Course Instructor

Blog Post
More losses at Big Box retail

Posted on 11/25/2007

Transworld (owner of Coconuts and FYE) just posted their dismal third quarter 2007 financials. The company posted a net loss of $14.3 million. Check the full report out here

Interesting quote from CEO:

“We continued to achieve positive comparable store sales in home video, video games, electronics and boutique during the third quarter, however, these results did not offset the decline in music,” said Robert J. Higgins, Chairman and Chief Executive Officer of Trans World Entertainment

No real surprise here. Transworld does not provide niche music products specific to a particular geographic location (all buying is done at corporate), they do not generally support the bands in their local community, and have not been quick to diversify into other lifestyle areas: all hallmarks of successful (mostly independent) retailers. It’s clear that the CD format will fade away over the next few years, but I think some retailers will weather the storm better than others.

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Clay Shirky on Social Media
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Covering an Entire Album in a Day
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Estelle Bennett – Ronettes
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The Word of Mouth Manual Volume II
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SXSW Interviews
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Record Store Day
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SXSW
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Why I am a fan of TuneCore
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How to get your music on iTunes
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The Trouble with the Future of Radio
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More losses at Big Box retail
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The (growing) Cost of Doing Business
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