Vinyl customers at Best Buy, however, have more time; records will continue to be sold for the next two years, according to Billboard. The company is said to bring in about $40 million annually from CD sales - no small potatoes - but with CD sales down 18.5 percent a year ago, apparently there's bigger fish to fry inside those boxy blue & yellow buildings.
Target is also reevaluating its sale of CDs. Vinyls will be marketed with turntables in stores. The decision to terminate CD sales likely comes as a result of increased consumer interest in digital music streaming services like Spotify and Apple Music, and declining CD sales in the US. Although CDs remain a relatively popular format worldwide, sales in the USA dropped more than 18% previous year, prompting Best Buy to drop the format entirely.
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Target also gave the same demands to DVD suppliers, where it would only pay after the DVDs are sold. "With consignment, the inventory risk shifts back to the labels", says Billboard's sources.
For some listeners, the convenience of streaming services and legal downloads gradually took the place of CDs. We are committed to working closely with our partners to bring the latest movies and music titles, along with exclusive content, to our guests. Apparently those numbers just aren't enough to justify the price of stock and the shelf space needed to keep CDs in stores.