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?