- Best Buy confirmed it will discontinue sales of DVD and Blu-ray in early 2024
- The decision followed Netflix’s end of its DVD-by-mail service last month
- Walmart, Amazon, and Target will be the top retailers stocking discs
Best Buy is set to close two iconic sections in nearly 1,000 stores nationwide and online after the 2023 holiday season.
The decision to end selling DVDs and Blu-ray has been made due to the shift in the way consumers are watching movies and TV shows.
This move will leave Walmart, Amazon, and Target as the top retailers stocking DVDs and Blu-ray discs.
‘To state the obvious, the way we watch movies and TV shows is much different today than it was decades ago,’ said a Best Buy spokesperson in a statement to Variety on Friday.
‘Making this change gives us more space and opportunity to bring customers new and innovative tech for them to explore, discover, and enjoy.’
Best Buy is shutting down two iconic sections – DVD and Blu-ray – in nearly 1,000 stores nationwide and online after the 2023 holiday season
The decision to end DVD and Blu-ray sales was made nine months ago due to the shift in ‘the way people watch movies and TV shows’
Revenue from physical media in the U.S. experienced a 28 percent decline, totaling $754million in the first half of 2023
The consumer-electronics retailer’s decision follows Netflix, the pioneer in DVD-by-mail service, winding down its service last month. Sales of DVDs and Blu-ray discs have been shrinking for years.
The upcoming 2023 shopping season is likely to be the last chance for Best Buy customers to stock up on disks from the retailer.
On its website, it has listed more than 14,000 DVDs and 20 Blu-ray players, and it will continue selling them through the shopping season.
Consumers may not be surprised if they have visited Best Buy’s physical stores recently, as the retailer has kept moving and shrinking the disc aisles in the past few years.
Revenue from physical media in the U.S. experienced a 28 percent decline, totaling $754million in the first half of 2023.
A $1.05billion revenue was recorded in the corresponding period of the previous year, according to the Digital Entertainment Group.
Best Buy has listed more than 14,000 DVDs and 20 Blu-ray players, and it will continue selling them through the shopping season
The upcoming 2023 shopping season is likely to be the last chance for Best Buy customers to stock disks from the retailer
The company said it’s both ‘pragmatic and optimistic’ heading into the final two quarters, despite the uncertain macro environment
Best Buy’s comparable sales in the second quarter of 2023 was down 6.3percent from the same period of the previous year and the online sales fell 7.1 percent.
Second-quarter sales fell 7.2% to $9.58billion, slightly better than analyst estimates. While appliance and electronic sales were down, the entertainment category increased by 9.1percent.
The results ‘reflect a consumer electronics industry that remains challenged due to the pull-forward of demand in prior years and the various macroeconomic factors that we are all too familiar with,’ said Best Buy’s CEO Corie Barry in its earnings release.
Barry added that the company was both ‘pragmatic and optimistic’ heading into the final two quarters, despite the uncertain macro environment.
‘Of course, the macro environment remains uncertain with a number of tailwinds and headwinds, soon including the October resumption of student loan payment, all of which results in uneven impacts on consumers,’ she said.
‘Overarchingly, we believe that the consumer is in a good place. But as we have said, they are making careful choices and trade-offs right for their households.’