Earlier this past February, Best Buy made the announcement that they were going to stop selling CDs in-store or online this coming summer. On July 1st, they kept their promise.
Back in 2016. The Recording Industry Association of America or RIAA claimed that streaming was the top format for music. So much so, that it was able to generate more money in the U.S. music industry than any and all other forms altogether.
Reports online say that Best Buys CD department was only able to bring $40 million yearly.
People will still be able to purchase physical CDs for now in stores such as Walmart and Target. However, at Best Buy, music lovers will only be able to buy vinyl albums. That is, for the next two years only.
With stores like Toys R Us closing their doors for good, it was only time before other stores began downsizing as well.
You Can No Longer Buy CDs At Any Best Buy Location In-store Or Online
The available records will be next to turntables within their stores. According to reports from the RIAA, sales of vinyl went up 3 percent in 2016.
Target stores will be switching up how they buy their CDs. They will only pay music labels once people purchase their CDs. The company is doing so because before they were buying the CDs in bulk. They would then ship the ones not sold for credit.
Best buy no longer selling CDs shows that were at the beginning to an end when it comes to music history. Music lovers have been purchasing CDs for the last decade. Though online streaming is a convent way to listen and receive music, it eliminates the need for physical music experiences. People used to wait in line outside of stores until midnight to get their hands on some of their favorite albums.
Sources are saying that within the next year or two, Target may be the next company to no longer sell CDs.