Presto Music, one of the world’s leading ecommerce site for classical music and jazz recordings, sheet music, music books and musical instruments, has seen overall business growth of 18% during the 2020-2021 financial year, making it the retailer’s most successful to date during what can only be described as turbulent economic times.
The company attributes the growth in large part to sustained customer demand for classical and jazz music throughout the lockdown period.
Founded in 1986 as a small high street shop in Leamington Spa, Presto Music provides the broadest range of classical recordings (CDs, DVDs, Blu-rays and Downloads), sheet music and music books available online. The site, featuring a wide variety of reviews and recommendations, has become one of the most well-respected classical music authorities in the world.
In FY20/21, the number of active customers (purchased during the year) was 102,087, exceeding 100,000 for the first time in Presto’s history and representing an increase of 16% on the previous financial year. Further cementing the company’s financial success was a 47% increase in music downloads, while sales figures for the jazz department experienced an astonishing growth of 100%. But while downloads performed extremely well, CD sales still accounted for over 50% of Presto’s revenue due to the richer information in the accompanying booklets, as well as high quality sound.
Chris O’Reilly, CEO of Presto Music, says: “The results have been extremely rewarding for our team. While we appreciate that the unusual circumstances we’ve all experienced this past year have certainly played a part in our success, our commitment to exceptional customer service and fast delivery has also been instrumental, combined with the countless hours invested in delivering carefully curated content for our dedicated and loyal customer base.’’
The significant financial growth, the recent addition of a ‘musical instruments and accessories’ department to Presto’s online catalogue (now totalling more than 1 million products), as well the recent launch of the company’s very own app and new features for the website, has prompted the decision to reinvigorate the Presto brand with a new logo and a renewed corporate image on its 35th anniversary.
Paolo Pezzangora, Head of Marketing at Presto Music, adds: “Companies should always consider rebranding whenever their business goes through an expansion such as the one Presto experienced this past year. This comes with an added opportunity to connect with new customers and prospects, and therefore also an opportunity to go through a brand reinvention.”
O’Reilly concludes: “It’s been an invigorating year and so far 2021 has been showing promising results as well. We look forward to another productive FY and to the numerous opportunities this will bring with customers both new and old.”
