Ten years ago, Jamal Al Naser wouldn't have thought of selling the life-size, autographed Michael Jackson poster that hung on the wall of his music store. A few weeks ago, however, he sold his "Moonwalker" poster to a collector for $5,000.
"I get more profit from collectibles these days," Mr. Naser, the owner of Village Music World on Bleecker Street, said.
As sales of CDs and records slump, independent music stores are turning toward the sale of music memorabilia as a way to stay in business. Such mom-and-pop stores have been a mainstay of the New York City retail scene for generations, often a first stop for college students, audiophiles, and tourists alike. But with advances in technology allowing listeners to download songs on their computers and a general slump in the music industry, the number of shoppers at these stores has dwindled. "There's only maybe 20% left of what used to be the music industry, and in a few years there will be less than 2%" of what was once a thriving retail sector, Mr. Naser said.
Just last year Tower Records shuttered its doors, and Sam Goody closed almost half of its 900 stores nationwide. The Recording Industry Association of America reported a 13% drop in overall retail sales since 2001.
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