A dinosaur of the music industry took a long anticipated hit this week, as Columbia House filed for bankruptcy on Monday. The mail-order record club was very familiar to anyone who was around in the 80’s – it provided users with 8 or 12 cassettes for a penny (ludicrous!) and in exchange you were expected to purchase more music at a disproportionately steep price.
With the turn of the digital age, the concept became dated and the business seemingly fell off the face of the earth. Columbia House was actually purchased by BMG in 2005 and re-purposed as a mail-order DVD club in order to stay relevant. Currently, it’s reported by Rolling Stone that in 2015 the company was 59 million dollars in the red, prompting their bankruptcy status.
Some are saying farwell to an old friend, others are prompting the question – who?
(Main Image courtesy of Clement Soh via Flickr)