There was considerable buzz last month when Billboard, using unnamed sources, reported that Best Buy will stop selling CDs in its stores by July.
Some were shocked. Others shrugged their shoulders, surprised that the electronics chain still sells physical music in the age of streaming.
So I asked Best Buy CEO Hubert Joly about it this morning on a media call after the company reported an impressive jump in holiday sales. Was Best Buy in fact totally exiting the CD market?
"We've not finalized exactly the details of what we're going to do," said Joly.
He added that the company follows the lead of customers, who are not buying CDs much anymore.
"Does anybody remember the last time they bought a CD?" he asked rhetorically to the reporters on the call.
So while the details are still to be worked out, and given the industry trends, he said it shouldn't be a shock that Best Buy is "de-emphasizing this category."
