Best Buy to stop selling CDs

Once known as one of the top spots to purchase CDs, Best Buy plans on ceasing all CD sales starting July 1, according to a report from Billboard.

It’s a sign of the times for CD sales, which per Billboard were down 18.5 percent last year. Best Buy still does plan on carrying vinyl for the next two years in order to meet a commitment made to vendors.

Target could also follow suit, according to Billboard, if suppliers don’t meet their new sales conditions. Target currently pays for CDs it receives from suppliers within 60 days and pays to ship unsold CDs back to suppliers for credit, but Billboard reports they have plan to shift to consignment and told music and video suppliers it plans to change to scan-based trading. It’s a move that could determine the future of CDs, Billboard says.

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“If the majors don’t play ball and give in to the new sale terms, it could considerably hasten the phase down of the CD format,” Billboard says.

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