HMV last week announced that it has taken a 50% stake in 7digital, thrusting the digital media company into the retail spotlight.
It’s an important tie-up for the entertainment retailer and proof it is not resting on its laurels or riding on Zavvi’s demise when it comes to accelerating its digital proposition.
As well as 7digital becoming the sole supplier for HMV and Waterstone’s digital operations, the deal also gives the retailer the chance to profit from other emerging digital trends.
For instance, in late March, 7digital signed a deal with Spotify. Now HMV will get a slice of the action if consumers decide to purchase a song after listening to it on Spotify, but aren’t prepared to make the internet leap to HMV’s own site.
As long as the retailer allows 7digital to continue innovating then there is no reason why this deal shouldn’t allow it to properly catch up with the digital revolution.