With this news, it looks like retailer Target is also looking to lessen the impact from its physical media department in stores by demanding that it only pay for units that are sold.
In what can be considered a sign of the times, Best Buy has reportedly told music supplies that it is phasing out sales of physical CDs. In addition, the store must pay to ship back any unsold CDs for credit. The decision to terminate CD sales likely comes as a result of increased consumer interest in digital music streaming services like Spotify and Apple Music, and declining CD sales in the US. Target is asking music suppliers to be compensated per CD sales instead of buying in bulk.More news: 3 officers shot in Colorado Springs, 1 dead
Sources say that music suppliers have until either April 1 or May 1 to decide whether they will agree with terms that will have Target only paying for music CDs after someone has purchased them. Most recently, Target moved half a million of Taylor Swift's Reputation, showing it can still push large titles. So far, none have stated what they're going to do, but at least one major label is leaning no while the other two majors are undecided. With the death of the MP3, and people shelling out cash to use streaming services, the sale of physical copies makes even less sense for retailers.
So that got us thinking: How much longer before Blu-rays, 4K Blu-rays, and DVDs are yanked from Best Buy store shelves?