Best Buy music CD sales end tipped with July phase-out date

Best Buy to Pull CDs, Target Threatens to Pay Labels for CDs Only When Customers Buy Them

Although Best Buy used to be the top music seller in the USA, nowadays its CD sales generate a relatively low $40 million per year.

"At one point, Best Buy was the most powerful music merchandiser in the USA, but nowadays it's a shadow of its former self, with a reduced and shoddy offering of CDs", Billboard reported.

Target, on the other hand, says it will only sell music CDs under a consignment basis, shifting inventory risk back to the labels. But that report also found that CD sales fell about 4 percent over the previous year, and added that CDs "may not fade away anytime soon".

Best Buy remains committed to selling vinyl records, which have enjoyed a resurgence in popularity lately. The decision to terminate CD sales likely comes as a result of increased consumer interest in digital music streaming services like Spotify and Apple Music, and declining CD sales in the US.

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Target told labels that it no longer wants to take inventory risk on the sales of music and video previous year.

You know those CDs you no longer buy? Under the plan, Target would only pay for the discs when they are purchased, rather than upon receiving them.

Target used to carry more than 800 CD titles, but seems to have reduced its stock to less than 100 titles.

"Entertainment has been and continues to be an important part of Target's brand. We have nothing more to share at this time". Between just those two streaming services alone, there are over 100 million paid subscribers around the world, each one getting their music from the cloud.

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