Retail Giant Predicts The Death Of CDs Within Five Years
Looks like CDs will be joining 8-tracks and cassette tapes at the flea market sooner than you think. The chief executive of one of the largest entertainment retailers in the United Kingdom has said that the shelf life of the compact disc is coming to an end.
According to Ultimate Guitar, Simon Fox of UK entertainment retailer HMV recently told The Sun that he believes the CD market will drop from it's 2010 figure of $1.4-billion to $475-million by 2014. He also said that his chain of music stores will no longer stock compact discs by 2016. As for the immediate future of the Cd and his stores he said, "There will be a place for CDs, but it's difficult to see out more than five years."
The store will apparently try to keep it's doors open by adding more mp3 players, headphones, and other music related tech to the shelves. A music store with no music sounds about as useful as a network calling itself Music Television and not having any music programming. Unfortunately for HMV, there is no way for them to make money off of pregnant teenagers and drunks from New Jersey.