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|Articles - September 2012|
|Monday, August 27, 2012|
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When Napster and iTunes made streaming and downloading an option in the late ’90s and early 2000s, the customer base of record stores all but dried up. To compound the situation, big-box stores like Best Buy began selling CDs for cheap, sometimes at a loss, to attract customers to their stores for bigger-ticket items.
As a result, music stores closed in record numbers, and those that remained open struggled to break even, often downsizing or diversifying their product offerings to adapt.
Portland institution Music Millennium closed its second location on NW 23rd Avenue in 2007 and resorted to selling nonmusic merchandise such as posters, T-shirts and novelties like potato guns and flavored crickets.
“We fight every month just to pay our bills,” says owner Terry Currier.
While the store earns enough to pay its employees and utilities, it has not made a profit since 2002 and often falls behind on payments to music-distribution companies.
About five years ago, the resurgence of the vinyl record slowed the music store nosedive, at least somewhat.
Vinyl sales have increased nationally every year since 2007 — 36% from 2010 to 2011, according to Nielsen SoundScan. And while vinyl sales accounted for only 1.2% of the total album sales last year, 67% of vinyl sales took place in independent music shops.
“It’s a very small portion of overall business, but it has a very significant impact on the independent businesses because they are such significant supporters,” says Jim Donio, president of the National Association of Recording Merchandisers.
In an attempt to remedy his situation, Music Millennium’s Currier plans to make some major changes in the coming months, including closing the classical shop adjoining the main store, knocking down the dividing wall and expanding his vinyl section into the additional space.
“I want to get to the point where cash flow is better and I don’t have to deal with credit departments,” he says.
Though the record renaissance occurred across the country, the surge in new establishments is a phenomenon unique to Portland, say industry experts and those in the business.
Unlike New York, San Francisco, Los Angeles and other cultural centers, Portland offers a fertile music scene, a population that supports neighborhood businesses, cheap rents and a relatively inexpensive cost of living.
“We’re one of the few cities that has that combination,” Isaacson says.
Tuesday, March 31, 2015
BY JACOB PALMER | DIGITAL NEWS EDITOR
inDinero, a business that manages back-office accounting for startups and smaller companies, recently announced it would relocate its headquarters from San Francisco to Portland. We talked to CEO Jessica Mah about what drew her to Portland and how she plans to disrupt the traditional CPA model.
Tuesday, March 10, 2015
BY JACOB PALMER | OB DIGITAL NEWS EDITOR
Baseball is returning to Portland and city officials are hoping economic opportunity comes with it.
Friday, March 27, 2015
BY AMY MILSHTEIN
Damian Smith bets on changing himself — and Portland — through consulting.
Monday, April 13, 2015
BY GRANT KIRBY | OP-ED CONTRIBUTOR
The mega-shift from technology-driven to data-driven organizations raises questions about Oregon’s workforce preparedness.
Tuesday, February 24, 2015
BY LINDA BAKER | OB EDITOR
At Oregon State University, a 21st century version of the bad dream — nuclear terrorism — is alive and well. This winter, the Department of Nuclear Physics and Radiation Health Physics created a new interdisciplinary graduate emphasis in nuclear forensics, a Sherlock Holmes-sounding program that aims to identify how and where confiscated nuclear and radiological materials were created.
Thursday, March 19, 2015
BY DAN COOK | Photos by Jason E. Kaplan
An alliance of developers, academics and timber industry executives wants to position Oregon as a front runner in the glamorous new world of wooden skyscrapers.
Friday, March 27, 2015
BY AMY MILSHTEIN
As baby boomers sell their businesses, too many forget the all-important succession plan.
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Providing attendees with unique taste of the Northwest Reception.
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