The HMV Effect

HMV going into administration is a great example of what happens when you rely too heavily on an old system.

I’m sure the directors will continue to blame the recession or consumers for their lack of spending but the truth is they were lazy and lacked imagination when it really mattered.

Just like many young people who will continue to blame the recession for their lack of work, when in reality they’re the kind of people who are yet to embrace social media because that wasn’t part of the deal.

iTunes and Amazon are both flourishing, not because they have better products than HMV but because they adapted to their customers needs and created a better system. Isn’t it time you upped your game?