Music store Planet M will soon introduce digital music downloading in its stores nationwide to counter the decline in CD sales. [via BusinessofCinema.com]The plan is to place kiosks with downloading software in stores for customers to download songs available at the store. There are about 75 Planet Ms in the country and a few more outlets will be opened in 2008. The digital music plan will be rolled out around Diwali this year.

Nikhil adds: PlanetM, which is a Times Group company, has also tied up with Essar Telecom Retail for housing outlets of The Mobile Store in up to 40 PlanetM outlets [via ToI]. Now the company is also planning to enter the VCD/DVD rental business (via ET) and open 500 stores in four years, including 100 outlets in Tier-II cities in the next 12-18 months. I’m wondering if Indiatimes will host a VCD/DVD rental site for PlanetM; there’s obvious synergy.