- Mar 20, 2004
I'm not surprised, actually. In our household my wife & I accumulated hundreds of music CDs over the years. These days the rare time we buy a physical CD it is off of Amazon and it is with the intent of listening to it in our cars. Other than those couple of purchases a year all other music we buy is digital.There's not much reason to shop for CDs when you download or stream all your music, and big-box stores are reacting to that decline. Billboard sources have learned that Best Buy has told suppliers that it will remove music CDs from its stores as of July 1st. The chain was only making $40 million per year from the plastic discs -- a drop in the bucket for a retailer this size. Vinyl aficionados will still find records on sale for the next 2 years, according to the insiders, although they may have to be sold next to the turntables themselves.
Target, meanwhile, appears on the cusp of backing out. It reportedly wants to switch from paying for all music CDs and DVDs it receives (and shipping back whatever it doesn't sell) to only paying for those discs that actually sell. Suppliers would have until April 1st or May 1st to make the switch, depending on the company. And they're not necessarily willing to cooperate -- at least one major music label is "leaning no," Billboard said, while two others have yet to make a call.