Best Buy just reminded us nobody cares about music on discs anymore.
When was the last time you purchased a music CD? If you did, chances are it wasn’t from Best Buy as the retailer has decided to call time on music CD sales. As of July 1, you will no longer be able to walk into a Best Buy and browse through its music CD collection.
As Billboard reports, Best Buy has already informed its music suppliers that their services will no longer be required come July. The decision to drop CDs follows an 18.5 percent decline in music CD sales in 2017. For Best Buy specifically, it is thought music CDs now only generate $40 million per year. Vinyl will continue to be sold, but that’s only guaranteed for the next two years due to a commitment made to vendors.
Target is trying a different tactic. Instead of dumping CDs completely, it wants music and movies to be sold on a consignment basis. What that means is, Target would only pay for an individual CD or DVD once it is scanned and sold to a customer. That shifts the risk back to vendors and away from Target in what is clearly declining markets.
Music and video suppliers haven’t agreed to Target’s demand yet, but a deadline has been set and we should know for sure what is happening as we head into the second half of 2018. It seems unlikely Target’s demand will be rejected as ultimately that could push it to follow Best Buy and stop selling music CDs altogether, and possibly DVDs, too.
CDs, DVDs, and even Blu-rays won’t disappear, but they could soon become online-only purchases. With the rise of streaming media services, eventually even releasing physical copies of new music, movies, and TV shows could come into question.