Target may stop selling CDs; Best Buy to stop selling CDs

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target-store-billboard-1548-1517613322.jpg

 

 

Quote

Sources say that Target has demanded to music suppliers that it wants to be sold on what amounts to a consignment basis. Currently, Target takes the inventory risk by agreeing to pay for any goods it is shipped within 60 days. With consignment, the inventory risk shifts back to the labels.

 

According to those sources, Target gave the ultimatum to both music and video suppliers in the fourth quarter of last year that it wants to switch to scanned-based trading, with a target date of 2/1. […] It has moved the deadline back to music suppliers to either 4/1 or 5/1. […] Sources within the various camps say that at least one major is leaning no, while the other two majors are undecided.

 

If the majors don’t play ball and give in to the new sale terms, it could considerably hasten the phase down of the CD format.

 

But in even bigger news than whether Target switches to buying on consignment terms, Best Buy has just told music suppliers that it will pull CDs from its stores come 7/1. At one point, Best Buy was the most power music merchandiser in the U.S., but nowadays its a shadow of its former self, with a reduced and shoddy offering of CDs. Sources suggest that the company’s CD business is nowadays only generating about $40 million annually. While it says it’s planning to pull out CDs, Best Buy will continue to carry vinyl for the next two years, keeping a commitment it made to vendors. The vinyl will now be merchandised with the turntables, sources suggest.

https://www.stereogum.com/1981540/best-buy-will-stop-selling-cds-and-target-might-be-next/news/

billboard src: https://www.billboard.com/articles/business/8097929/target-wants-to-stop-paying-labels-for-cds-it-doesnt-sell-best-buy-to-pull

 

TL;DR - target wants to be able to get rid of unsold CDs, but the major labels are giving them a hard time with that and are threatening to just cut off CDs completely. this is putting them into a sophie's choice of cutting off CDs or just dealing with it the way it is now. best buy is cutting off CDs overall because it's not making good money for them anymore, however, they will continue to sell vinyl and turntables.

 

wew :rip:

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Stupis as hell

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:ahh: so much for those target exclusives 

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NOOOOOOOOOOOOOO!!!! Ugh, the music industry is really dying. 

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Yikes.. Sales will be completely gone by the decade’s end 💀 I lothe streaming...:ahh:

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Our future is here :gaycat2:

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Good. The environment > music collectors. :cm:

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Their loss

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Look at what you streaming bitches and your ****ty, compressed LQ audio have done. :'(

 

I have faith in Japan though, pull through CD kings.

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I will NEVER stream, so I guess I'll be downloading that **** illegally :fan: 

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Queen vinyl is unbothered for another 2 years :celestial3: 

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Yes. Dvds/Blueray next.:clap3:

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I'm gonna have to hit up Best Buy and snatch some sales before they pull them.

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umm they better not, that's where i get all my CDs :biblio:

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At least it will be the end of those stupid ass target exclusives :mazen: 

 

another win for the streamers :fan: 

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This is sad. Target did a ton to support physical sales with their exclusives.

 

I may never need purchase another album again. Although I'll keep buying the albums of the very few artists I truly love. Guess I'll have to start going to record stores for that.

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Poor pure sales stans. :celestial4:

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This is so ugly :doc: 

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1 minute ago, Witchpop said:

I will NEVER stream, so I guess I'll be downloading that **** illegally :fan: 

What even :deadbanana: 

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tf? I want a place to get a good physical copy without going farrrrr

 

Taylor better sue

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walmart here we come

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They better not. It's way too soon to force the GP to convert from CDs to streaming. The only ones who use streaming the most are the younger ones, whereas the older people listen to the radio or buy CDs. Not a good move.

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2 minutes ago, Witchpop said:

I will NEVER stream, so I guess I'll be downloading that **** illegally :fan: 

literally why :deadbanana2:

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with digital also dying some of y'all will have to stream :eek: 

 

i love Mp3s tho. I consume music in all formats, digital, streams, CD, vinyl. :rip: 

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