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Now Opening Near You: TOWER PARKING
This is really sad, but true. A few months ago or so, Tower Records' primary store in SF, turned into Tower Parking. This was the store where I bought my first album many many years ago. I used to beg my mom to drive me to the store so I could spend hours going up and down the aisles to find that one album that none of my friends had purchased...
It's truly amazing how the proliferation of digital music has now propelled iTunes to being the third largest music retailer in the US, regardless of format (both downloadable and physical sales). iTunes now owns approximately 9.8% market share trailing Walmart and Best Buy at 15.8% and 13.8%, respectively, according to the NPD Group MusicWatch report.
Tower Records had filed for bankruptcy protection in 2004 and was subsequently bailed out by its creditors who believed that the company could be re-born. Despite being voted as the "Retailer of the Year" in the three subsequent years by The National Association of Recording Merchants, Tower was unable to turn the corner. By winter of 2006, Tower was liquidated by the Great American Group, who quickly closed down all of the stores, including my beloved store below...
But Tower isn't the only record store chain that has had its troubles. HMV shut down all of its stores in 2004. Virgin Megastores have reported losses of $495 million over the past two years. In fact, according to the RIAA, there were 9,500 record stores in 1991. In 2006, there were only 2,000 stores in the US...
Interestingly, other non-music retailers have now added CDs to their inventories in hopes to create an additional draw for customers who are encouraged to buy other items. Stores such as Radio Shack, JC Penney, and 7-Eleven have added CDs. Moreover, some retailers such as Target and Walmart have sold popular titles at a loss and have written it off as an advertising expense.
Here's an aerial view of the new Tower Parking...
My favorite - "The Difference is Selection"
The difference is that Tower is now a parking lot. Business models that solely rely upon revenue streams from sales of physical media are likely to share a similar fate... only time will tell, but I must admit that I miss the days of old, when there were once these places called record stores...
It's truly amazing how the proliferation of digital music has now propelled iTunes to being the third largest music retailer in the US, regardless of format (both downloadable and physical sales). iTunes now owns approximately 9.8% market share trailing Walmart and Best Buy at 15.8% and 13.8%, respectively, according to the NPD Group MusicWatch report.
Tower Records had filed for bankruptcy protection in 2004 and was subsequently bailed out by its creditors who believed that the company could be re-born. Despite being voted as the "Retailer of the Year" in the three subsequent years by The National Association of Recording Merchants, Tower was unable to turn the corner. By winter of 2006, Tower was liquidated by the Great American Group, who quickly closed down all of the stores, including my beloved store below...
But Tower isn't the only record store chain that has had its troubles. HMV shut down all of its stores in 2004. Virgin Megastores have reported losses of $495 million over the past two years. In fact, according to the RIAA, there were 9,500 record stores in 1991. In 2006, there were only 2,000 stores in the US...
Interestingly, other non-music retailers have now added CDs to their inventories in hopes to create an additional draw for customers who are encouraged to buy other items. Stores such as Radio Shack, JC Penney, and 7-Eleven have added CDs. Moreover, some retailers such as Target and Walmart have sold popular titles at a loss and have written it off as an advertising expense.
Here's an aerial view of the new Tower Parking...
My favorite - "The Difference is Selection"
The difference is that Tower is now a parking lot. Business models that solely rely upon revenue streams from sales of physical media are likely to share a similar fate... only time will tell, but I must admit that I miss the days of old, when there were once these places called record stores...
Comments
It won't happen over night, but clearly the handwriting is on the wall for the old model, much like the graffiti on the wall in the sad, sad picture of what was once Tower Records' signature store in the heart of one of America's most vibrant music scenes.
I think the same compelling urge to discover great music and the yearning to find one's own haven of dreams still resides in all of us, just as it did for you in of your youth, begging your mother to drop you off at Tower Records and your spending countless, but uplifting hours, in search of excellence and bliss.
God, I hope that you and your compatriots and soulmates at Fuzz can re-create the magic that was lost in the music industry! What sad pictures you share here of a yearning for things past, but what an uplifting whiff, however fragile, of things to come. The rest of us joining this community are here to help, if you show us the way.
I remember visiting this Tower just before rehearsals at your house, going up and down the aisles, fingering through the racks/bins, hoping to find something special, new, rare, interesting. So, if I was a little late, you know why! ;)
Easily, naturally, I could spend hours reading, looking, listening... exploring.
As TCC said in his last line, yes, PLEASE "show us the way" Yasuda... I will follow you.
Great pictures; great blog!
Here's a good one. . .ASU used to have a Tower Records next to it. Well, of course it shut down around the time the "we-have-nothing-but-top-40-and-greatest-hits-albums" Best Buy came into town.
Well, it was eventually divided up into several ASU offices. My office was one of the few that was moved there. My friend John and I estimated that our desks were somewhere around the old porn section, lol.
Here's the little independent store that I really make an effort to go to. http://www.hoodlumsmusic.com/ It's right in the student union & has been run by some former students for at least 15 years. They are small, but have a nice, well-rounded selection--mostly used. If they don't have something you can place an order for it and they will always have it in the next day. Great prices too. Kind of like the little engine that could. I have bought in to the Amazon thing, but now I get most of my stuff used off of Amazon or at Hoodlums.
Here's the little independent store that I really make an effort to go to.
http://www.hoodlumsmusic.com/
It's right in the student union & has been run by some former students for at least 15 years. They are small, but have a nice, well-rounded selection--mostly used. If they don't have something you can place an order for it and they will always have it in the next day. Great prices too. Kind of like the little engine that could.
I have bought in to the Amazon thing, but now I get most of my stuff used off of Amazon or at Hoodlums.