HMV Reports $77.8 Million Loss

HMV Reports $77.8 Million Loss
UK entertainment retailer HMV Group reported a $77.8 million loss for the 26 weeks ending Oct. 29, a wider deficit compared to the $47.9 million loss reported during the same period last year. Total sales from continuing operations were down 17.6 percent from 2010, while retail sales dipped 19.4 percent. HMV Group is considering selling its live operation, HMV Live, according to a Billboard.biz report. HMV Live showed a profit of $5.3 million during the period. (12/20)

Myspace Launches New Music Features
Following Specific Media's acquisition of Myspace earlier this year, the company has unveiled new features, including a free music player, which offers tracks from Myspace's catalog of more than 42 million songs, enhanced music recommendations and built-in search engines, as well as Facebook integration. The addition of these features are part of Myspace's attempt to re-establish itself as a leading music site following a drop in unique monthly users from 54.3 million to 24.9 million from November 2010 through November 2011. (12/20)

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