The retailer also reported its highest vinyl sales since the mid-90s, with more than 350,000 units sold - an increase of 170% year-on-year.
CD sales were up 1.5%, while DVD and Blu-ray sales were 0.5% higher in the year to December 2014 compared to the previous year, claimed HMV.
HMV reported that total sales reached £365.7m in the year to December 2014, up from £311.2m between 29th January and 28th December 2013.
The retailer placed particular emphasis on Black Friday and Cyber Monday deals, in addition to live in-store performances and signings from the likes of Take That and Kasabian (pictured above).
Hilco Capital chief executive Paul McGowan said: "HMV has captured more and more market share in a year when major new movie releases have been scarce and there have been only a few major album successes.
"With a bumper year of new releases already planned for 2015, we expect to have overall growth in like-for-like DVD and Blu-ray sales - as well as continued growth in the physical music sector with vinyl also expected to continue its revival."