Best Buy getting rid of CDs in stores

Best Buy To Stop Selling CDs in July of 2018

The consumer electronics chain was once a significant seller of CDs in the United States market, and only increased in importance as the number of specialist music retailers started to decline in the 2000s.

The once commonplace digital music format is getting hammered in the US.

Come June 1st, Best Buy will no longer offer CDs in its retail stores. Downloadable music was all the rage for a few years, but even that has taken a back seat as streaming services have been the major focus for audio lately. Experts said Best Buy's CDs only generate $40 million annually, a far cry from the former, most powerful music merchandiser, according to Billboard. Best Buy will continue to supply vinyl for the next year years and then phase that out as well.

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The past 15 years have seen innumerable pronouncements of the CD's impending doom, and yet those brittle plastic discs have stayed strong as the principal physical format stocked by retailers - until now. Convenience using streaming services has made consumers flock to those services. Digital sales are still going relatively strong, but physical sales are a shell of what they once were.

Target, meanwhile, appears on the cusp of backing out.

According to the report, Target is planning to move its business model to a consignment basis - where it will only pay for CDs sold. Now, Target is trying to pass the risk to labels, by changing their operations to scanned-based trading. It gave the music labels the deadline of April 1 or May 1 to agree to the terms.

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