Best Buy doesn’t see the value in CDs anymore.
Best Buy per report from Billboard.com will no longer carry physical CDs. Target, another retail giant, may be following suit in the near future.
The company notified music suppliers that they will cease selling CDs at stores beginning July 1. The move is sure to hurt the already declining sales of CDs, as consumers are switching to streaming platforms such as Spotify, Apple Music, and Tidal in large numbers. CD sales have already dropped by a sizable 18.5 percent in the past year, Billboard reports.
Target, for similar reasons, is eying a significant reduction in CD sales as well. The retailer is reportedly pushing for a consignment based sales platform; in which Target solely wants to pay for the CDs that it sells. Suppliers were given a deadline of either April 1st or May 1st, and sources state that none of the major labels have yet agreed on the new “scan-based” terms. Whether or not they do, it’s evident that we’re about to see significantly less music on major retailer shelves in 2018.
All signs point toward this being the beginning of the end for CDs.