Digital Stores, an ecommerce vendor for online music sites, tells us it posted a profit for the 2008/09 financial year, off the back of 68 percent better sales of £5.6 million. The company’s main RecordStore.co.uk platform powers sales for artists including Oasis, The Beatles and Placebo, and labels and services including EMI, Mute and ITV.com. Digital Stores is one of Bob Geldof’s digital investments, the other main one being Ten Alps
The company’s main business line is direct-to-consumer ecommerce. Leading Question research presented at this year’s Midem showed artist sites are the most popular source of info for a majority of web users (68 percent – that’s ahead of MySpace, YouTube et al). Digital Stores’ stores can process both physical sales and digital downloads.