Slashdot Mirror

An anonymous reader quotes Complex magazine: The future of physical music isn't looking good. According to Billboard, consumer electronics company Best Buy will no longer carry physical CDs and Target may be following suit in the near future. Best Buy notified music suppliers that they will cease selling CDs at stores beginning July 1. The move is sure to hurt the already declining sales of CDs as consumers are switching to streaming platforms such as Spotify, Apple Music, and Tidal in large numbers. CD sales have already dropped by a sizable 18.5 percent in the past year, Billboard reports.
Billboard also reports Target has given an "ultimatum" to music and video suppliers. "Currently, Target takes the inventory risk by agreeing to pay for any goods it is shipped within 60 days, and must pay to ship back unsold CDs for credit... Target has demanded to music suppliers that it wants CDs to be sold on what amounts to a consignment basis..."

"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."

An anonymous reader quotes a report from TechCrunch: Verizon Wireless and Hearst Corp. are set to jointly acquire Complex Media. The "video-first" lifestyle site, focused on pop-culture trends and general entertainment, will continue to operate independently, albeit with Verizon and Hearst now each owning 50 percent stakes in the company. Complex CEO and co-founder Rich Antoniello will continue to lead the company. The WSJ reports that the deal values Complex Media between $250 million and $300 million. "The decision to acquire Complex is certainly a continuation of our media strategy, which is focused on disruption that is occurring in digital media and content distribution, and involves building a portfolio of the emerging digital brands of the future for the millennial and Gen-Z audience," said Brian Angiolet, Verizon's senior vice president of consumer product and marketing.