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Business News Digital HMV Timeline Retail
HMV Canada launches download and streaming service
By Andy Malt | Published on Tuesday 23 April 2013
HMV Canada has launched a new download and streaming music service called The Vault. The service has been running in beta since the beginning of the year and currently has a catalogue of thirteen million tracks.
Nick Williams, President and CEO of HMV Canada, explained: “While we continue to see strong demand for CDs, we are also seeing an increased demand for accessing music in the digital environment, making the launch of The Vault especially timely. We know that the more than 35 million consumers who come through our stores each year count on us to enhance their music experience and The Vault is a clear indicator of our ability to do that. This combined retail and online offering will enable us to better connect with our customers and drive our business forward in 2013”.
HMV Canada, of course, is owned by Hilco, which recently bought the HMV UK business out of administration. Whether The Vault could enjoy a UK launch remains to be seen – the streaming market being very different over this side of the Atlantic – Spotify, for one, is still as yet to launch in Canada. Though HMV UK’s previously woeful record when it comes to online services is one of the factors which led to the company falling on hard times financially.
