Best Buy plans to stop selling CDs in July and the public isn't thrilled about it.
Best Buy formerly was one of the top retailers for CDs, but the decision to stop selling them is a reaction to the rise of music streaming services like Apple Music and Spotify as well as the resurgence of vinyl.
Revenue from digital music downloads surpassed CDs in 2014, and CD revenue has continued to decline. In 2017, streaming music generated 62 percent of the music revenue in the U.S., The Verge reported.
Streaming services typically charge a set monthly fee to listen to anything in that provider’s music library, and some like Spotify even have free versions with fewer options for listening. Rather than buying individual CDs, users can stream a wide variety of music on demand for the price of just a few physical CDs.
Those who do want the music in their hands are turning to vinyl and even cassette tapes, which have seen a resurgence due to nostalgia for the 1980s medium, The Verge noted.
Target is reportedly also considering removing CDs from its shelves after getting pushback from music manufacturers about placing inventory on consignment rather than the usual method of sending back unsold CDs for credit, Business Insider reported.
Billboard reported CD sales were down 18.5 percent last year, and sources at Best Buy said the company only makes $40 million a year from them nowadays.
Diehard CD users and fans showed up on social media in force to express their dismay at Best Buy’s plans, however.
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