Media Play What Happened?

Intro

Throughout the early ’90s and early 2000’s lived a chain of retail stores where Music, Video Games, electronics, books, and specialty goods were all sold under one roof. These stores were known as Media Play.

At its peak, it operated 89 stores in only 19 states. The electronic retail chain Best Buy even owned these stores, until they were unable to make them profitable.

By 2006 Media Play no longer existed due to stiff competition from discount retailers and online shopping.

Photo Credit Mike M. (Media Play Macon, Georgia)

Background

Media Play was founded by Musicland Corp in 1992. Musicland Group Inc is the one who runs Sam Goody and Suncoast Motion Company retail stores in shopping malls.

Media Play Mohawk Mall 1990's

Media Play offered things such as Books, Movies, Games, Music, and software all under one roof. These stores usually average between 46,000 square feet to 50,000.

Media Play also had a loyalty program known as “Replay” in which members can earn points for purchases.

The first store was opened in Rockford, Illinois at the Forest Plaza Shopping Center in 1992.

Media Play opened up additional locations in cities such as Atlanta, Charlotte, Cincinnati, New York & Salt Lake City just to name a few.

Replay Rewards Card.

In 2001, Musicland was purchased by Best Buy for an estimate of 685 million.

Best Buy at the time reported a 27% lost share of their value due to sluggish sales in music and entertainment and proposed a new strategic plan of reaching a bigger demographic with teens and women.

The demographics mostly included mall shoppers since Sam Goody stores operated mostly in malls.

Some Media Play stores also served as Junior Anchor to Malls, but the majority of them were located in retail strip centers.

After the acquisition, shares of both Best Buy and Musicland increased, and Best Buy acquired 1300 stores of Media Play and Sam Goody combined.

In early January of 2003, Best Buy reported losses and closed 107 Sam Goody stores and Suncoast stores. They also halted on future openings of Suncoast, Sam Goody & Media Play Stores.

In April that year Best Buy put Musicland up for sale which included 736 Sam Goody Stores, 383 Suncoast Video Stores, and 76 Media Play locations.

In June of 2003, Musicland was acquired by Sun Capital Partners who is a private investor based in Boca Raton Florida.

The sales were completed by the purchase of all Musicland’s capital stock from Best Buy. Liabilities such as Operating assets and lease obligations were acquired as well.

Throughout the remainder of the early 2000s, Media Play faced stiff competition from discount retailers such as Circuit City, Walmart, and rising online retailer Amazon.

They also had prices of certain items marked higher than what they should be. This made the average consumer think that the store was too expensive.

Media Play also began to shutter locations where the leases were either ending or too expensive.

Most of these locations were also considered unprofitable at the time.

In December of 2005, it was announced that Media Play will close its remainder 61 Stores affecting 2,000 employees across the company. Musicland and its parent company Sun Capital stated that it would continue to operate its Sam Goody and Suncoast Motion Picture locations.

Media Play Closing Article.

Musicland’s spokeswoman Laurie Bauer told the press that: “Media Play has not been profitable for years and that finding the Niche for Media Play has been tough. “

Throughout the end of 2005, Media Play began liquidating its stores and not accepting any returns. There Replay Loyalty Program was also discontinued.

By the end of January 2006, all remaining 61 locations were closed and they continued to operate as an online retailer for the remainder of 2006.

Musicland also filed for Chapter 11 Bankruptcy and announced closures of 226 Sam Goody stores and 115 Suncoast Motion Picture Company stores.

New York-based Transworld Entertainment Corporation purchased Musicland and the remaining stores from bankruptcy.

TransWorld are the ones behind F.Y.E. (For Your Entertainment) retail stores in which 98% of Sam Goody Stores were rebranded as F.Y.E.

Some former Media Play locations were reopened up and branded as FYE Superstores.

Although Media Play is gone, it still can be revisited as fye is an exact replica of how the stores were, but on a smaller scale.

Although Media Play is gone, it still can be revisited as F.Y.E. is an exact replica of how the stores were, but on a smaller scale.