2016 has been a rough year for music, and not just because of all the celebrity deaths. The industry as a whole is in constant flux, especially with how people consume their music.
Last month, HMV announced it wasn’t renewing its lease at the Eaton Centre and would be closing that location by the end of the year. HMV’s Bloor Street location also closed earlier this year, leaving only the 4000 square foot store at Yonge & Dundas remaining.
But HMV Canada president and CEO Nick Williams says the store at 333 Yonge St. isn’t going anywhere. HMV had hit a point with the other downtown locations where the company could no longer afford the rent it was paying. It’s a different story though, at Yonge & Dundas. That store receives a lot more traffic and has a much better relationship with the landlord.
HMV’s Toronto flagship store opened its doors in 1986 and is still very important to the company, added Williams.