HMV to relaunch online retail website

It looks like music and film retailer HMV hasn't gone down without a fight as healthy profits have led to the retailer opting to reopen their online marketplace.

After the HMV Group collapsed back in January 2013, Hilco UK took charge of the company in April of that year, opting to allow customers to only purchase music in-store with the company website acting as more of an editorial feature.

But with last year's profits now up to £17m, and HMV beating Amazon as the top seller of physical music, the company will soon reopen the website as a place to download and purchase new music.

Chief executive Paul McGowan stated, “We are careful that we don’t want to overcook it but there is a large potential for the UK website to lift the business. People are switching from downloads to streaming music, so digital is eating digital but physical music sales are recovering.”

HMV's lack of commitment to digital music was seen as a major factor in the company's original downfall, but with profits rising once again, it looks like they aren't going anywhere just yet.

[Via The Telegraph]

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