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The End Of CDs? Two More Major Chains Will Stop Selling Them

Reuters

If you're still in the habit of listening to music on your car's CD player, we have bad news.

The music format is still popular around the world, but not in America. Last year, CD sales nationwide dropped by 18.5%. Compare last year's 89 million CDs sold to the 800 million sold in 2001 (at the height of the CD's popularity).

The golden age of CD stores is long gone.Kims Loans

Those shrinking numbers were enough to scare some of America’s biggest stores away from selling CDs altogether.

The electronics retailer Best Buy has just announced it will stop selling CDs on July 1. The plan is part of a way to cut costs for the chain, which Billboard reports was only making $40 million annually from CD sales.

Best Buy will stop selling CDs this summer.AP

Ironically, the store plans to continue carrying vinyl records for at least the next two years, since the format has become popular (and profitable) again thanks to music fans and collectors.

As if the news wasn't bad enough, Best Buy isn't the only chain taking CDs off their shelves.

While Target hasn't officially decided to stop selling CDs, the retailer is definitely considering it.

Target's CD section's days are numbered.AP

The store is reportedly trying to set up deals with major record labels to sell their CDs on consignment. That means the labels would cover the cost of any unsold CDs.

If the companies don't agree in the next few months, you can expect Target to set their own deadline for CDs. The store has already shrunk their CD offerings from 800 titles to less than 100.

The retailer is also trying to set up a consignment deal for DVDs, so there's a chance they could vanish from Target's electronics department too.

Walmart is one of the few stores that still has a CD section.The Music Beat

Despite the rush to kill CDs, music fans are still willing to buy hard copies of their favorite albums. Last year, Taylor Swift's Reputation sold more than 500,000 copies.sh

CDs are still on sale at Walmart, smaller record stores, and the online retailer Amazon.

In case you're not feeling old yet, the first major album released on a CD was Billy Joel's 52nd Street, way back in 1982.

Are you still listening to music on CDs? I sure am!

[H/T: Consumer Affairs, Billboard]

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