While not pulling the plug entirely, Best Buy is indeed reducing the number of CDs it sells in its brick-and-mortar stores.
A February report in Billboard cited July 1 as the drop-dead date for Best Buy and the legacy physical media, and so we reached out to the chain on Monday for the official ruling.
A company spokeswoman offered the following statement to TWICE: “The way people buy and listen to music has dramatically changed and, as a result, we are reducing the amount of space devoted to CDs in our stores. However, we will still offer select CDs, vinyl and digital music options at all stores.”
Sales for Best Buy’s entertainment segment were flat in the fiscal first quarter vs. the prior-year period, representing 7 percent of the company’s overall revenue mix.
Related: Best Buy Q1 Comps Soar 7.1%