Record Stores Fight to Be Long-Playing
By Ben Sisario
Now added to the endangered species list in New York City, along with independent booksellers and shoe repair: the neighborhood record store.
The hole-in-the-wall specialty shops that have long made Lower Manhattan a destination for a particular kind of shopper have never made a great deal of money. But in recent years they have been hit hard by the usual music-industry woes – piracy, downloading – as well as rising real estate prices, leading to the sad but familiar scene of the emptied store with a note taped to the door.
Some 3,100 record stores around the country have closed since 2003, according to the Almighty Institute of Music Retail, a market research firm. And that's not just the big boxes like the 89 Tower Records outlets that closed at the end of 2006; nearly half were independent shops. In Manhattan and Brooklyn at least 80 stores have shut down in the last five years.
Read more about this at the New York Times website: