Best Buy will stop carrying CDs this year, report says

Best Buy Pulling CDs From Shelves Target Shakes Things Up With New Policy Matthew Meadow

Soon enough, Best Buy will cease selling CDs altogether, while Target will ask the record labels to front the costs.

According to Billboard, the No. 1 tech retailer in the United States of America has informed music suppliers that it's cutting the CD cord on July 1 after annual CD sales fell to $40 million, or 0.1 percent of total 2016 revenues. Any unsold merchandise is shipped back to the labels, again at the store's expense.

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Billboard reported that it told music suppliers they will no longer sell CDs, but they will continue to carry vinyl for the next two years. Spotify is the top streaming music service globally and still boasts the most paid subscribers in the United States, though Apple Music is on pace to leapfrog Spotify in the U.S. by this summer. It reportedly wants to switch from paying for all music CDs and DVDs it receives (and shipping back whatever it doesn't sell) to only paying for those discs that actually sell. That specific medium for music has seen a boost lately. Under the plan, Target would only pay for the discs when they are purchased, rather than upon receiving them. Most recently, Target moved half a million of Taylor Swift's Reputation, showing it can still push large titles. One music manufacturer is leaning toward saying no to this deal, according to Billboard.

The spokesperson continued by saying the company was evaluating its operating model reflecting its continued investment in its Entertainment business. Perhaps in the future a new generation of audiophiles will reignite interest in CDs and we'll have CD Store Day. Music lovers can still order CDs online, buy them at other major retailers, such as Walmart, or at some of local record shops.

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