HMV embark on expensive, futile wheel-redesign

HMV is bravely pushing on with its attempt to revive its brand by building its own social-networking site, that will allow people to "connect with like-minded fans", reports PaidContentUK. This almost willful decision to ignore the existing social networks and hope that, instead, people will create new accounts on an HMV sponsored, locked-down site, would be quite touching if they weren't a public company in whose stock pension funds and insurance companies have vested your futures.

No, they really do think that despite Bebo, MySpace and Facebook all having acres and acres of chatrooms, groups, lists and widgets for people to explore all facets of their cultural life, that there's a gap in the market for an only HMV, highstreet-retailed music-DVD-games network. Heartbreaking.