Formerly | Paramount Pictures (1986–1988) |
---|---|
Company type | Subsidiary |
Industry | Retail |
Founded | 1986 |
Headquarters | Roseville, Minnesota |
Number of locations | 3 (as of July 2023) |
Products | Betamax, VHS, Laserdisc, DVD, Blu-ray, CD |
Parent | Musicland (1986–2006) Trans World Entertainment (2006–2020) FYE (2020–present) |
Suncoast Motion Picture Company (Suncoast) was an American chain of retail stores specializing in new and used physical media, primarily CDs, DVDs, Blu-rays, and vinyl records, as well as collectibles.
Suncoast was initially a subsidiary of Musicland before being purchased by Transworld Entertainment. After the purchase most stores were stocked like its sister chain FYE. Transworld entertainment was purchased by Sunrise Records in 2020 making Suncoast a subsidiary of Sunrise.
The first Suncoast store opened in Roseville, Minnesota, in 1986 as Paramount Pictures. This was a joint venture between the Paramount movie studio and Musicland, which at the time was one of the largest music and video retailers in the United States. Once Paramount pulled out of the joint venture, Musicland changed the store’s name to Suncoast Motion Picture Company in 1988.
In 1999, Musicland launched websites for Suncoast, Sam Goody, Media Play, and Oncue.
In 2001, Best Buy purchased their then parent-company, Musicland, for $685 million. [1]
In January 2003, Best Buy closed 20 Suncoast stores as part of a larger closing that included 90 Sam Goody stores. [2]
Later that year in June 2003, Sun Capital Partners assumed Musicland's liabilities from Best Buy. [3]
In January 2006, The Musicland Group filed for Chapter 11 bankruptcy in the United States Bankruptcy Court for the Southern District of New York; store closures during the bankruptcy included 80 Suncoast stores [4] [5]
In late March 2006, Trans World Entertainment Corp. completed the purchase of nearly all of the assets of Musicland Holding Corporation for $104.2 million in cash and $18.1 million in assumed liabilities. [6] TWEC retained the Suncoast name on around 170 stores after acquisition.
However, on December 26, 2009, they announced the closure of 150 Suncoast stores nationwide.
In mid-2023, the Suncoast at the Westroad mall in Omaha, Nebraska closed, leaving only two full line Suncoast Motion Picture Company stores opened: one in Beaumont, Texas and the other in Jacksonville, North Carolina. A third, which is a combination of both an FYE and a Suncoast Motion picture company store remains in Beavercreek, Ohio in The Mall at Fairfield Commons. [7]
Best Buy Co., Inc. is an American multinational consumer electronics retailer headquartered in Richfield, Minnesota. Originally founded by Richard M. Schulze and James Wheeler in 1966 as an audio specialty store called Sound of Music, it was rebranded under its current name with an emphasis on consumer electronics in 1983.
Tower Records is an international retail franchise and online music store that was formerly based in Sacramento, California, United States. From 1960 until 2006, Tower operated retail stores in the United States, which closed when Tower Records filed for bankruptcy and liquidation. Tower Records was purchased by a separate entity and was not affected by the retail store closings.
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Media Play was a chain of retail stores founded in 1992 by Musicland that sold VHS, DVDs, laserdiscs, music, electronics, toys, video games, anime, books, and board games similar to Hastings Entertainment, 2nd and Charles, and Half Price Books. Each store contained full book, movie, music, and video game sections under one roof. At their height, they operated 72 stores in 19 states with 2,000 employees. The first store opened in Rockford, Illinois, in 1992. Hundreds of stores were slated to be opened, but only 89 ever were. Media Play opened stores from 1992 to 2000.
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The Musicland Group, Inc. was an entertainment company that ran Musicland, Sam Goody, Discount Records, Suncoast Motion Picture Company, On Cue, and the Media Play Superstore Chains. The Musicland Group was purchased by Best Buy in 2001 at the height of Musicland's success, which ultimately led to its demise. Jack Eugster was the CEO of The Musicland Group, from 1980, until February 2001. Its headquarters were in Minnetonka, Minnesota.
A record shop or record store is a retail outlet that sells recorded music. Per the name, in the late 19th century and the early 20th century, record shops only sold gramophone records. But over the course of the 20th century, record shops sold the new formats that were developed, such as eight track tapes, compact cassettes and compact discs (CDs). Today, in the 21st century, record stores mainly sell CDs, vinyl records and, in some cases, DVDs of movies, TV shows, cartoons and concerts. Some record stores also sell music-related items such as posters of bands or singers, related clothing items and even merchandise such as bags and coffee mugs.
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