The End Of An Era For Musica As It Shuts Down
The End Of An Era For Musica As It Shuts Down! The Clicks Group has announced that it is officially shutting down Musica entertainment business due to the shift to digital consumption of music, movies and games. “Musica has been operating in a declining market … owing to the structural shift globally to the digital consumption of music, movies and games from the traditional physical format,” Clicks said.
Musica has been the country’s leading music and entertainment retail brand for decades. The digital shift has hit the industry hard and the situation has worsened eve more amid the COVID-19 pandemic.
“The inevitable demise of the brand has been accelerated by the Covid-19 pandemic which resulted in the rapid decline in foot traffic in destination malls where Musica stores are typically located.” Since the beginning of Musica’s 2021 financial year, the organisation has closed 19 and is currently trading from 59,” Clicks said. The remaining stores are set to be closed as leases expire over the next four months which is the 31st of May 2021.
Entertainment commentator and TV host Kgopolo Mphela also reacted to the closure of Musica, he wrote: “MUSIC: Musica is shutting down Retail group Clicks, in statement has announced, that it will be shutting down Musica in South Africa, after several years of decline. Clicks acquired the brand in 1992. 1000s of job expected to be lost.” See below for some of celebrity reactions:
“In the stores which have been closed since September 2020, the Musica staff have been absorbed into the group’s expanding health and beauty store network. Management is committed to accommodating the remaining staff within the group where this is operationally feasible. Further details on the financial and operational impact of Musica’s closure will be communicated to shareholders with the release of the group’s interim results in April 2021,” said Clicks.
