Farewell CDs: Popular retailers pushing them out of stores

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(2/6/2018) - The end of the road for CDs may be near.

First developed in the 1980s, the format quickly became the dominant form of media as the shiny disks replaced cassette tapes. Their popularity soared through the 1980s, 1990s and early 2000s.

But as online streaming and digital downloads grew in popularity over the past several years, sales of CDs have plummeted. That is prompting major retailers to reconsider carrying them.

Best Buy is eliminating CDs from its stores altogether by July. The electronics retailer says sales slid by 18.5 percent last year.

However, Best Buy will continue carrying some vinyl records -- the 1960s technology that is coming back in popularity nowadays.

Target stores will continue selling CDs, but executives are changing their policy. The retailer will only pay music companies for CDs after they sell rather than pay in advance to stock them.

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