Report: Best Buy to stop selling CDs this summer

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EDISON -

Compact discs may become harder to find as Best Buy reportedly plans to stop selling them.

According to a report from Billboard, Best Buy has told music suppliers that it will pull CDs from all its stores on July 1. 

The report also stated that Target could be next. The company has demanded that music suppliers sell them inventory on a consignment basis only.

“Currently, Target takes the inventory risk by agreeing to pay for any goods it is shipped within 60 days, and must pay to ship back unsold CDs for credit,” the Billboard report stated. “With consignment, the inventory risk shifts back to the labels.” CLICK HERE to read the full article.

With music streaming services and the returning popularity of vinyl, CDs seem to have lost their charm.

Over 800 million CDs were sold in 2001, compared to 89 million last year.

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