Avex has also generally been slower than other majors to recognise and embrace the shift to digital, meaning it has been harder hit in this domain. And, of course, COVID has had a bigger impact on physical sales than digital consumption. Nevertheless, Avex has been hit by COVID in two ways.įirstly, while Japan has finally begun to shift to digital, physical record sales remain much more important than in other territories – with 68% of the country’s record industry revenues coming from the sale of physical discs in 2019.

It has also been hit by the pandemic, even though COVID restrictions in Japan have generally not been as severe as in Europe and North America. The fall, apparently, is due to many of its former big earners being past their career peak, or – in the case of singer Namie Amuro – having retired from music completely. In a statement to Billboard, the company said: “It is true Avex is moving forward with structural reforms and is considering selling the head office building as part of these, but we have not made a decision at this time”.Īt one time the dominant record label in the Japanese recorded music market, it was last year third behind Universal Music and Sony Music, seeing its market share halve in just five years. It has reportedly put its Tokyo HQ up for sale and has offered early retirement to almost a third of its staff. Japan’s fourth major label, Avex, has begun a possibly significant downscaling, in part as a result of the pandemic, according to Billboard.

Do not post personal information (address, email, phone number, e.t.Business News Labels & Publishers Japanese major label Avex downsizing By Andy Malt | Published on Wednesday 18 November 2020.

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