Technology is such a curious industry to sit back and watch, with the Internet spurring constant innovation. In a scenario that would have been hard to fathom not too long ago, electronics retailer Best Buy has dropped CD sales.
Ironically, the CD purge became official on July 1… but you’ll still be able to buy vinyl records at your nearest Best Buy store. Retail CD sales dropped 18.5 percent in 2017 alone, with financial analysts estimating the struggling business unit racked up only $40 million in sales per year.
This might become a common trend among brick and mortar retail locations that offer CDs. Earlier in the year, Target told record studios they wanted to pay royalties and associated costs only once an album sold – rather than upfront.
However, Target shot down claims that they would stop selling CDs, releasing this statement:
“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.“
[Image Courtesy of Pixabay / StockSnap]