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The top 10 European retail markets for musical instruments and music equipment (including the UK) are worth approximately £4.3 billion, and are undergoing a profound shift towards online retail.
|Top European Markets|
|Country||Estimated Market Size (£m)*|
* = Management estimate
Approximately £178 million of the UK market is already online, and the top six UK companies account for an estimated 16%.
The Board believes that the current dynamics of the UK competitive landscape, in particular the significant degree of fragmentation with no large or dominant retailers, presents a consolidation opportunity. Whilst acquisitions do not form a core part of the current strategy, opportunities will be reviewed on an ad hoc basis.
A survey conducted by Nexus Research in 2014 on behalf of the charity ‘Music for All’ suggested: