The demand for physical CDs would not diminish any time soon despite the move by Clicks to cut the footprint of its Musica chain by about 37 percent in the year to August, chief executive David Kneale said yesterday.
“Overall we are gaining market share in the CD and DVD market,” he said. “It is still going to be around for many years to come. We hope to be the last man standing.”
A total of 44 Musica stores were closed in the period, with three more closures planned. Kneale said the current footprint of 120 stores would not be expanded in future.
Comparable store sales growth at Musica was 5.8 percent. The technology and accessories division in Musica increased sales of products such as headphones, USB sticks, posters and T-shirts, by 38 percent in the period.
According to the Nielsen and Billboard report, CD sales in the country declined by 14.2 percent in the first six months of 2013, while digital album sales were up 6.3 percent. Streaming of music from online sources surged 23 percent in the period. – Zandi Shabalala