Best Buy to stop selling CDs

Best Buy to stop selling CDs

Best Buy to stop selling CDs

However, in the past year, I bought a vehicle with an AUX input and finally acquired a record player, drastically reducing the amount of CDs I listen to.

With digital sales and streaming eclipsing the sale of physical media, Best Buy has announced they will start pulling CDs from stores this July.

Best Buy used to be the number one music retailer in the United States, but has depleted its selection in recent years to almost nothing.

Technology retailer Best Buy will stop selling physical CDs, and retail chain Target may follow suit. Vinyl, once pronounced dead by the retail market, will remain in stores for at least two more years. We reached out to Best Buy for comment, but haven't received a response as of this writing.

Target is also reportedly threatening to drop CDs unless labels agree to consignment-like terms - not paying for the discs until they are sold.

Now its system relies on taking inventory risk by paying for the CDs it gets within 60 days. Target could also make a similar move as consumers gravitate toward music streaming services like Spotify and Apple Music. It wants to pay for CDs and DVDs after they are sold or scanned at the registers. That specific medium for music has seen a boost lately. One music manufacturer is leaning towards saying no to this deal, according to Billboard.

At one point, Best Buy was the most powerful music merchandiser in the USA, but nowadays it's a shadow of its former self with a relatively small inventory of titles. For example, previous year Target moved 500,000 copies of Taylor Swift's latest, Reputation.

The spokesperson continued by saying the company was evaluating its operating model reflecting its continued investment in its Entertainment business. We are committed to working closely with our partners to bring the latest movies and music titles, along with exclusive content, to our guests. With a growth rate of 5 percent to Spotify's 2 percent, Fortune predicts Apple's streaming platform could overtake Spotify as the No. 1 streaming service in the U.S. On a global scale, Spotify's subscriber base is nearly twice as that of Apple Music's.

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