Musica is still making money

Musica, which is owned by the Clicks Group, is still making money despite negative perceptions in the market, according to a report in the Sunday Times.

Musica has traditionally sold CDs, DVDs, and a variety of entertainment products such as speakers and headphones.

Clicks Group CEO David Kneale told the Sunday Times that while the group is not investing in Musica, many outlets remain profitable despite the trend away from physical media towards digital.

“We are not putting any investment into Musica because the future of the group is health and beauty,” Kneale said.

“We have 109 outlets that are profitable, so it makes no sense to close them down.”

Future of Musica

While profitable Musica stores might stay open, Clicks management has reportedly stated that unprofitable branches will be closed down.

Clicks is open to the idea of selling Musica, but it is unsure if there is any company which will want to buy it.

“I’m just not certain who is going to buy it,” Kneale said.

“Musica is a heritage business that, if you were setting up this business again today, you wouldn’t go into.”

In May last year, Kneale told MyBroadband that Musica was still going strong in South Africa, despite the closure of competitor Look and Listen.

He also previously noted that the brand remains profitable and cash-generative for the Clicks Group.

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Musica is still making money