Best Buy Just Killed The CD
Best Buy cut the number of music CD's it carries dramatically this week. The electronics retailer operates more than 1100 stores in the United States and was the largest chain of stores there that carried CD titles beyond the Top 100.
While earlier reports implied that Best Buy would stop carrying CDs altogether as of July 1st, this week's shift is more of a phase-out with stores still carrying a much smaller CD selection.
Best Buy's move was expected, but still marks a near-final nail in the coffin of a format that drove music industry profits to all time highs just a decade ago. Music downloads are also experiencing a similar decline as music fans shift to streaming.
“The way people buy and listen to music has dramatically changed and, as a result, we are reducing the amount of space devoted to CDs in our stores,” the company said in a statement. “However, we will still offer select CDs, vinyl and digital music options at all stores.”