HMV predicts CDs will come to an end in 2016

According to Gigwise.com, the chief executive of music retailer HMV has predicated that the CD format will be dead in five years. He said the market would be worth just £300million by 2014 – down from £900million last year, and by 2016, the CDs will no longer be in shelves. Here’s his explanation:

“There will be a place for CDs, but it’s difficult to see out more than five years”

CDs reportedly reached their sales peak in 2004, but with the growing popularity of digital stores like Apple’s iTunes, and illegal downloading, CD sales began to falter. However, HMV has a plan. In preparation for their uncertain future, they will re-focus their shelves and increase their stock of MP3 players, headphones and other technology products to account for 25% of their product range.

So, what do our readers at Dying Scene think? Should the CD format continue to hit shelves, or will you drop it all to go digital in the future?



4 Comments

  1. Demigod9/14/2011 7:33 AM | Permalink

    There’s something about going into a record store, flipping through their selection and then finding and buying a sought after album and having the artwork and lyrics and all in hand. Downloading will never be able to replace that for me.

  2. Patrick McDermott9/14/2011 7:34 AM | Permalink

    It’s part of the digital world we live in. I honestly have stopped buying CDs and moved on to digital media several years ago. I like my iPod. You’re going to see the music and video shelves at HMV,FYE, Best Buy and Walmart become very small over the next decade.

  3. Johnee Deformed9/14/2011 7:38 AM | Permalink

    I still prefer to have a cd, or vinyl of an album that I really enjoy. I have always preferred the “album experience” and always will.

  4. poisonedfate
    Jeremy Stacks9/14/2011 11:00 AM | Permalink

    I too prefer to have cd’s, at least for the most part. The good thing about sites like iTunes is that they give you the option to pick and choose which songs you want to buy.
    As for cd’s being gone in five years… I blame Best Buy!!!
    Back in the 90’s Best Buy started putting local (small) record stores out of business. Today there are very few small record stores still in business so if you want to buy a physical copy of a cd, you go to Best Buy, Target or Wal-Mart. But those stores have GREATLY cut down the amount of music that they carry. So when you look at it that way, big box stores put the small mom and pop stores out of business and then abandoned the media when the sales started to lag and since there are not a lot of other places left to buy cd’s the sales dropped even more. So to Best Buy’s finance department it looks like they got out just in time but in actuality, they were responsible for a majority of the drop in sales.

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