Retailer HMV has reclaimed its position as the largest seller of physical music in the UK.
According to figures released by HMV’s parent company Hilco, total sales reached £365.7m in the year to December 2014.
Vinyl helped this revival after enjoying a huge resurgence during the festive season with album sales increasing by 170 percent to reach over 350,000 units sold in the year.
This figure equates to 30 percent of the total market while sales of the format in the week before Christmas 2014 were the highest at HMV since the mid-1990s.
Ian Topping, chief executive of HMV in the UK, said: ‘The right-sizing of the property portfolio and our continued focus on HMV’s key product categories has led to a much stronger business proposition.
‘An excellent value for money product range with strong in-stock positions combined with a focus on live events and our Pure rewards programme have driven a renewed appreciation of the role of HMV on the high street.’
Over 300,000 customers signed up to the renewed Pure rewards scheme during 2014. This provided HMV customers with access to 250 live in-store gigs and album signings as well as an increasing number of 'money can't buy' gifts.
Sam Smith, Ed Sheeran, Take That, Olly Murs, Kasabian and Clean Bandit were also among the artists to lend their support to the retailer in the form of signings and live shows.
Hilco acquired HMV back in April 2013 after the company fell into administration.
According to figures released by HMV’s parent company Hilco, total sales reached £365.7m in the year to December 2014.
Vinyl helped this revival after enjoying a huge resurgence during the festive season with album sales increasing by 170 percent to reach over 350,000 units sold in the year.
This figure equates to 30 percent of the total market while sales of the format in the week before Christmas 2014 were the highest at HMV since the mid-1990s.
Ian Topping, chief executive of HMV in the UK, said: ‘The right-sizing of the property portfolio and our continued focus on HMV’s key product categories has led to a much stronger business proposition.
‘An excellent value for money product range with strong in-stock positions combined with a focus on live events and our Pure rewards programme have driven a renewed appreciation of the role of HMV on the high street.’
Over 300,000 customers signed up to the renewed Pure rewards scheme during 2014. This provided HMV customers with access to 250 live in-store gigs and album signings as well as an increasing number of 'money can't buy' gifts.
Sam Smith, Ed Sheeran, Take That, Olly Murs, Kasabian and Clean Bandit were also among the artists to lend their support to the retailer in the form of signings and live shows.
Hilco acquired HMV back in April 2013 after the company fell into administration.
