Best Buy to stop selling CDs by July 1

People enter a Best Buy store as it opened for a Black Friday sale on Thanksgiving Day, Thursday, Nov. 23, 2017, in Overland Park, Kan. (AP Photo/Charlie Riedel)

RICHFIELD, MN (WATE) – Best Buy plans to stop selling CDs by July 1, according to Billboard.

CD sales were down 18.5 percent in the U.S. and the company is generating $40 million for sales.

Best Buy will continue to sell vinyl for the next two years.

Sources told Billboard that Target is threatening music suppliers. The company wants to be able to switch to scanned-based trading in order to prevent an inventory risk.

Target sells less than 100 titles in many of its stores. According to Billboard, the retailer once sold as many as 800 titles.

“Entertainment has been and continues to be an important part of Target’s brand. We are committed to working closely with our partners to bring the latest movies and music titles, along with exclusive content, to our guests. The changes we’re evaluating to our operating model, which shows a continued investment in our Entertainment business, reflect a broader shift in the industry and consumer behavior,” said the retailer to Billboard.

NBC4i.com provides commenting to allow for constructive discussion on the stories we cover. In order to comment here, you acknowledge you have read and agreed to our Terms of Service. Commenters who violate these terms, including use of vulgar language or racial slurs, will be banned. Please be respectful of the opinions of others and keep the conversation on topic and civil. If you see an inappropriate comment, please flag it for our moderators to review.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s