Tower Records Closing Sounds Death Knell for Music Retailers

KPBS | By KPBS Public Broadcasting

Published October 24, 2006 at 11:05 AM PDT

This story was published more than 17 years ago.

Iconic music retailer Tower Records is going out of business. A music store owner and an industry analyst explain what's behind the closing and what challenges are ahead for the music business.

Tower Records Closing Sounds Death Knell for Music Retailers

Tom Fudge : The tower has collapsed. What does the liquidation of Tower Records mean for other record stores and the future of recorded music sales in this country?

Sacramento based Tower records used to be the most successful chain of record stores in America. But the company announced this month that it will be going out of business after several years of financial losses. Have they become anachronistic in a time when the Internet can provide all the music and CDs we want?

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Guests

Russ Crupnick , vice president and senior industry analyst with NPD Entertainment.
Eric Howarth , co-owner of M-Theory Music, a local independent music retailer.

(Photo: Closing signs cover the Tower Records storefront in San Diego, John Newton/KPBS )