News

End Of An Era: Best Buy Will Stop Selling CD's; Target May Follow

By Alox

Hey, 80's babies, have you felt old today yet?

Perhaps this will remind you that your childhood is long gone. 

Come July 1st, Best Buy will not sell any more CDs, Billboard reports

Even though digital is on the upswing, physical is still performing relatively well on a global basis -- if not in the U.S. market, where CD sales were down 18.5 percent last year. But things are about to get worse here, if some of the noise coming out of the big-box retailers comes to fruition.

This news follows a steady decrease in revenue for the store, and its peers, due to people buying music less and less in general and, of course, the rapid rise of streaming in the past few years. 

Sources suggest that CDs only make the company approximately $40 million annually. Best Buy's around the country will continue to offer vinyls for the time being as sales for records have been on the rise for the past 3-4 years.

It's also been reported that Target will follow suit and refrain from selling CDs in the near future if their consignment offer is not met. 

In layman’s terms, Target is currently made to pay for any goods shipped and not sold within 60 days of labels sending them out. Consignment would mean that labels take that risk now.

This could sadly be the beginning of the end for all CDs everywhere.

Do you remember what the first CD that you purchased was?

Posted In: News

Discuss

Rumors 21 Savage and Amber Rose Dissed Each Other at Coachella / Rumors News Slim Jxmmi Asked If His Brother Swae Lee's Solo Success Bothers Him / News News Kanye West Feels Like J. Cole Has Been Dissing Him / News Rumors Report: Kanye Threatens To Fight Tristan Thompson For Cheating on Khloe Kardashian / Rumors News Method Man Says Atlanta Took New York's Spot In Hip Hop / News News Eminem Brings Out 50 Cent And Dr. Dre at Coachella / News