Big music retailers diversify to survive in internet age

The torrent of technological changes in the past couple of decades may have swept away the numerous music shops that once dotted Hong Kong, but some of the big retailers have managed to hold their ground.

Statistics from the International Federation of the Phonographic Industry show music sales in Hong Kong dropped to HK$400 million last year from HK$2.8 billion in 1989.

Hong Kong's music exports - locally produced music sold elsewhere - dwindled from HK$1 billion to almost zero over the same period.

via Business feed http://www.scmp.com/business/companies/article/1071935/big-music-retailers-diversify-survive-internet-age