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Apple CDR (CAD Hedged)
Symbol AAPL
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Close 2023-10-13 C$ 26.62
Market Cap C$ 215,622,000
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FP/wire say like Netflix, Best Buy ditching DVD sales

2023-10-16 08:09 ET - In the News

See In the News (C-NFLX) Netflix CDR (CAD Hedged)

The Financial Post reports in its Saturday, Oct. 14, edition that this will be the last holiday season for DVD sales at Best Buy. A Bloomberg dispatch to the Post reports that the retailer is ditching DVDs both in store and on-line starting in 2024, a watershed moment for shoppers who once counted the days until the latest releases were available to purchase. A Best Buy spokesman said, "Making this change gives us more space and opportunity to bring customers new and innovative tech for them to explore, discover and enjoy." Entertainment represents just 6 per cent of Best Buy's total revenue in the U.S. Physical movies will still be available through the holiday season, and the change will not impact video games, the company said. Since Netflix first launched its streaming service in 2007, consumers have shifted away from purchasing physical movies as well as DVD and Blu-Ray players. With thousands of movies and TV shows available to stream from companies including Disney, Hulu, Amazon and Apple, DVDs have become all but obsolete. Earlier this year, Netflix shut down its original business of delivering DVDs by mail.

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