Shulou(Shulou.com)11/24 Report--

Thanks to CTOnews.com netizen Coje_He for the clue delivery! CTOnews.com, Oct. 15, according to variety, Best Buy (Best Buy) will phase out in-store and online sales of DVD and Blu-ray discs in early 2024. Best Buy made a preliminary decision to end DVD sales nine months ago, according to a source.

"it is clear that the way we watch movies and TV shows today is very different from that of decades ago," a Best Buy spokesman said in a statement to Variety. " "making this change provides us with more space and opportunities to bring customers new and innovative technologies for them to explore, discover and enjoy."

As of mid-2023, Best Buy had 1129 stores, of which 969 were in the US, CTOnews.com notes. After Best Buy withdraws from the market, Wal-Mart, Amazon and Target will become the largest retailers in inventory of DVD and Blu-ray discs in the United States. It is understood that Wal-Mart has 45 per cent of the DVD market.

At the same time, Redbox, owned by Soul Chicken Soup Entertainment (CSSE), has about 29000 DVD rental kiosks nationwide and remains a strong competitor to the physical CD business.

With the rise of streaming video, sales of DVD and Blu-ray discs have been shrinking for years. Us physical media revenue fell 28 per cent to $754 million in the first half of 2023, compared with $1.05 billion a year earlier, according to DEG.

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