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HMV hopes to use its stake in digital delivery service 7Digital to take on the likes of Steam and Metaboli.
The retailer acquired a 50 per cent stake in 7Digital last week, for 7.7 million in cash.
The London-based firm has a catalogue of over six million digital music tracks and will become the single supplier for all HMV’s digital operations. 7Digital will also provide an e-books store for HMV.
HMV CEO Simon Fox told MCV: The great thing about this partnership is that it will give HMV the infrastructure to develop its entire digital offer across all formats, and we very much hope games can be a part of this when the time is right.”
The HMV Group’s UK and Ireland division posted 12.5 per cent total sales growth for the 18 weeks to August 29th last week – with like-for-like sales up 1.7 per cent.
The full group’s total sales advanced 4.4 per cent and were down 1.8 per cent like-for-like.
With the Government, ISPs and the entertainment industry now working together to restrict illegal downloading, this is the right time for HMV to invest in digital entertainment. Our joint venture with one of its leading players gives us a strong position in a market poised to grow faster,” added Fox.
