Best Buy will no longer sell CDs
As music-streaming sites continue to monopolize the way listeners digest their tunes, sales of music storage devices like CDs continue to dwindle.
Earlier this year, Best Buy announced that it would be pulling CDs from their shelves in the coming months. Now, it’s finally been enacted, and the electronics retailer has stopped selling CDs as of July 1.
According to a February report from Billboard, Best Buy was once the most powerful music merchandiser in the U.S. but recently has only been pulling in around $40 million annually from CD sales. The report also noted that CD sales were down 18.5 percent in North America in 2017, leading stores like Best Buy to put their efforts in profits elsewhere.
Meanwhile, records continues to rise in popularity, and 2017 marked the twelfth year in a row vinyl LPs have grown in sales. Best Buy will continue to carry vinyl records for the next two years to honor a commitment to vendors.
Featured photo by Paul Sakuma for the Associated Press
H/T: HotNewHipHop.com
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