According to reports, Best Buy will no longer sell CDs come this July, and Target might be soon behind them.
Here’s some unfortunate news for fans. It looks like it could be the beginning of an end for CDs. According to a report from Billboard, Best Buy will no longer sell physical copies of CDs come July 1st, and Target could be following suit.
Best Buy reportedly notified music suppliers this week that they will cease selling CDs at their stores this Summer. The cause for this move is unknown, but it will definitely hurt sales. CD sales were down 18.5 percent last year, and with this now happening, it's only going to get way worse moving forward.
However, there is a little kicker. While they say they're done with the CDs, Best Buy will continue to carry vinyl for the next two years, keeping a commitment it made to vendors.
In addition to Best Buy, Target might also go the no-CD route as well. Sources say that Target has demanded to music suppliers that it wants to be sold on a consignment basis. As Billboard reports, “Target currently takes the inventory risk by agreeing to pay for any goods it is shipped within 60 days, and must pay to ship back unsold CDs for credit. With consignment, the inventory risk shifts back to the labels.” In other words, Target wants to take less of a risk and put it on the labels. If these requirements aren't met, they will reportedly cease all CD sales.
Billboard also points out that both Best Buy and Target have been reducing the number of music titles they have been carrying in recent years as well. So not only are the CDs going away, but so are many of our favorite artists who are getting supported.
You can read the full report over at Billboard, and let us know your thoughts. Do you even listen/purchase CDs anymore? Will this move by Best Buy effect you?