It’s been about 15 years since CDs were anyone’s preferred method of music storage, but these shiny little discs have have been surprisingly resilient. Despite their status as an antiquated medium, they still sell pretty well internationally, though sales in the U.S. market were down 18.5% in 2017.
In any case, it looks the CD’s time in the pantheon of economically viable music storage mediums may finally be coming to an end. Billboard reports that Best Buy—the big box retailer that was once the most powerful music merchandiser in the U.S.—will cease selling CDs at its stores on July 1st of this year. According to the publication, the company’s CD sales are only generating a paltry $40 million annually.
On top of that, Billboard also reports that Target is now stocking its CDs on a consignment basis. Evidently, the retailer is now demanding that music suppliers agree to buy back any CDs that aren’t sold within a 60 days.
Interestingly, these nails in the coffin of CD sales haven’t done much to slow the comeback of an even more resilient music medium. While Best Buy is planning to pull CDs off its shelves, the retailer also plans to carry vinyl for at least the next two years. It’s a move that won’t shock anyone who saw the vinyl was on track to become a billion dollar industry in 2017.
[Photo: Mike Mozart via CC BY 2.0 license]