Elton John’s plan to save HMV

Elton John may be one of a number of top-selling artists to perform at HMV stores, in a bid to save the high street chain.Elton John could perform in an HMV store in a bid to help save the high street chain. Since last month, when the firm went into administration, major record labels have been trying to come up with ideas to boost CD sales. Last week the chief executive of Universal UK, David Joseph, said that one of the label’s biggest selling artists had come up with a plan for getting customers into stores.

“One of our biggest global superstars said why don’t we get a lot of the biggest artists to start doing gigs in HMV, just to turn up and say these are music stores, come and get your music here.” He later confirmed the star to be Elton John.

“Elton has always been a big supporter of record shops. He will be doing something with HMV,” he confirmed.

Elton John, who will headline this year’s Bestival, has not yet confirmed that he will take part in the line-up.

Various labels including Warner Music and Sony have come together to provide support for the store, by offering reduced fees and credit.

Meanwhile, it was this morning announced that a further 464 staff members face losing their jobs at the high street chain, which will close 37 more stores across the country over the next two months. It has already announced the closure of 66 stores.

Source: The Telegraph