CDs WERE POPULAR IN THE MUSIC INDUSTRY IN THE LATE 1980S AND EARLY 1990S, BUT COULD BE OUT THE WINDOW IN 2018.
The end of the CD format are in sight of two major retailers, Best buy and maybe Target, who are set to stop selling cds.
Best Buy notified music suppliers that they will stop selling CDs at stores beginning July 1. The declining sales of CDs have already been hurting as consumers are switching to streaming platforms such as Spotify, Apple Music, and Tidal. CD sales have already dropped by 18.5 percent in the past year.
Target is waiting on a response from music suppliers. The discount retailer has asked to be switched to scanned-based trading, which translates to a type of consignment. The switch would mean that the company wouldn’t pay for the CDs until they have been sold or scanned at the register. Target has also asked the same of DVD video suppliers.
Even though CDs will be leaving these stores, Vinyls will be staying.
No comments