Best Buy is pulling the plug on CDs.
According to a new report from Billboard, CD sales were down 18.5 percent last year, with retailers like Best Buy and even Target looking to stop carrying the format in stores.
In a new announcement, Best Buy has told music suppliers that it plans to pull CDs from its shelves starting July 1. According to sources at Billboard, the company was only generating around $40 million annually in CD sales, a sharp decline from what was once a billion dollar offering for Best Buy. The company will continue to carry vinyl records for the next two years, following a commitment it made to suppliers.
Target is also rumored to discontinue its in-store CD sales……