Best Buy to stop selling physical CDs

Technology retailer Best Buy will stop selling physical CDs, and retail chain Target may follow suit.

This is according to Billboard, which reported that Best Buy has “told music suppliers that it will pull CDs from its stores come July 1”.

According to the report, Target is planning to move its business model to a consignment basis – where it will only pay for CDs sold.

Best Buy will continue to stock and sell vinyls, which will be marketed with turntables.

In South Africa, the sale of CDs is declining rapidly, but remains the most popular way to buy music.

Music revenue from the sale of physical media in South Africa declined by almost 29% between 2015 and 2016, said IFPI.

According to IFPI’s data, physical revenues made up 52% of the South African market in 2015, while digital accounted for 28%.

In 2016, physical sales decreased to 39% of the market, while digital revenues made up 33%.

Now read: CDs are still king in South Africa

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Best Buy to stop selling physical CDs