TOKYO, JAPAN - 2020/04/04: Tower Records in Shibuya during the corona virus pandemic. The Tokyo metropolitan government has again asked residents to stay at home this weekend following a surge of new infections of Coronavirus (COVID-19). (Photo by Viola Kam/SOPA Images/LightRocket via Getty Images)
The Iconic American music retailer Tower Records is back in business. It has re-launched as an Online Music Store after almost 14 years.
This famous music retailer company was closed due to bankruptcy in the year of 2006 at its former U.S. physical location. The company has been re-building the business little by little and after this Global Pandemic, online platforms seem to be a convenient platform for the promotion of music and business regarding it.
Tower Records came back to business earlier this week as an Online Music Store for selling music and merch. The official website features online musical performances and also the iconic magazine ‘Tower Pulse!’ which returned after so many years. They have also planned for a series of pop-up shops to take the business further.
The relaunch of this musical chain was scheduled earlier this year in March, but the event was postponed due to the Global Pandemic. The company’s CEO Danny Zeijdel said the relaunch “has been met with tremendous success, feedback. A lot of people are so happy taking pictures of when they receive an order from Tower Records, posting it on Instagram.”
Tower Records was founded by Russ Solomon in Sacramento in 1960. The company has been the best in the music retailing market until digital music took over the industry. At its peak of the business, the retailer had a total of $1.1 billion in revenue from 173 stores. Among those 106 stores were in the U.S.A only. Until late in 2006 the company has been in reigning in the industry. However, it went of business due to two consecutive bankruptcy filings, and that eventually lead to Chapter 7 liquidation.
Tower Records, as a music retailer company has gone through a lot of ups and downs but it always stood back. The rise and fall of this company are documented in a film named ‘All Things Must Pass’ in 2015. The film was narrated by the founder Solomon. Unfortunately, he died in 2018 and could not witness this relaunch of the company.
Subscribe to our newsletter and get trending music news and Gossip in your inbox.
