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Best Buy, one of the largest retailers in the US, has announced that it will no longer sell movies, including DVDs and 4K Blu-rays, starting in 2024. The store will also stop selling physical movies online, including 4K titles and special-edition steel books that collectors look forward to.
According to a statement made by the company, “The way we watch movies and TV shows is much different today than it was decades ago. Making this change gives us more space and opportunity to bring customers new and innovative tech for them to explore, discover and enjoy” .
This move by Best Buy is not surprising given the shift in consumer behavior towards digital streaming services. With the rise of streaming platforms such as Netflix, Amazon Prime Video, and Disney+, consumers have been increasingly opting for digital content over physical media. In fact, according to a report by the Motion Picture Association, global home entertainment spending on digital content surpassed physical media for the first time in 2019.
While this move may be disappointing for movie collectors and enthusiasts, it is a clear indication of the changing times. Best Buy’s decision to focus on new and innovative tech is a smart move, given the growing demand for smart home devices, gaming consoles, and other cutting-edge technologies. In conclusion, Best Buy’s decision to stop selling movies is a reflection of the changing times and the shift in consumer behavior towards digital streaming services. While this may be disappointing for movie collectors, it is a smart move for the company to focus on new and innovative tech that aligns with the growing demand for smart home devices, gaming consoles, and other cutting-edge technologies.