Virgin Megastores had what they describe as "one of the most successful years" the chain has ever had in 2007 by turning away from albums and focusing on other product. The store "defied market gravity" by transforming into a "lifestyle entertainment shopping destination," as sales of video games, DVDs, clothing and books all enjoyed increased sales over the preceding years while music continued to slump. Even the two Virgin Megastores in New York City — which are reportedly on the verge of shuttering in 2009 — posted combined increased sales of ten percent. "For the first time in five years our store traffic is up over plan," said Virgin Entertainment North America CEO Simon Wright. So it appears brick-and-mortar music stores may live on — just with a lot less music.
Video Games Help Virgin Megastore "Defy Market Gravity," Turn Profit
Around the Web
Powered By ZergNet
Around the Web
CrackedThe 5 Greatest Movie Sex Scenes
SalonThe 7 Most Tragic Band Deaths In Rock History
Mental Floss11 Hit Songs Originally Intended for Other Artists
Mental Floss24 Things You Didn't Know About 'Goodfellas'
DiffuserMusicians We've Already Lost in 2016
Cracked6 Bands That Reinvented Themselves To Get Famous
- Watch Beyonce's Surprise New Video 'Formation'
- Super Bowl Halftime Shows Ranked: From Worst to Best
- Alice Cooper on His Dinner With David Bowie and Ray Bradbury
- Coldplay's Chris Martin Gets Personal: Inside the New Issue
- 25 Musicians 'Feeling the Bern' for Bernie Sanders
- Dead & Company Announce Summer Tour
- Beyonce's Black Southern 'Formation'
- Watch Lady Gaga Sing Stirring National Anthem at Super Bowl 50