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Best Buy to Stop Selling CD's

07 February 2018

You only have a few more months to purchase CDs at Best Buy. CD sales overall in the United States were down 18.5% previous year, and it only made up $40 million of Best Buy's yearly revenue, so it's not a great surprise that they've made the move.

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In an interesting twist, the store is committed to carrying records for the next two years with the vinyl format having a resurgence. Vinyl will be merchandised alongside turntables, Billboard's sources suggest. In addition, Target is also said to be reevaluating its approach to CD sales.

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Billboard further reported that major retailer Target has issued an "ultimatum" to music and video suppliers, saying it will carry inventory on a consignment basis or not at all. Evidently, the retailer is now demanding that music suppliers agree to buy back any CDs that aren't sold within a 60 days. The move comes as CD sales continue to decline; revenue from digital music downloads eclipsed it back in 2014. Now, Target is trying to pass the risk to labels, by changing their operations to scanned-based trading. Music labels are apparently waiting to see how DVD manufacturers react. Though Target only stocks 100 titles at any given time, it's still responsible for a sizable chunk of sales.

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So that got us thinking: How much longer before Blu-rays, 4K Blu-rays, and DVDs are yanked from Best Buy store shelves? Revenues from services providing streaming music represent 62% of the entire market for first six months of 2017, shows new numbers just released by the music industry's trade group RIAA.

Best Buy to Stop Selling CD's