It’s the end of an era. Columbia House has filed for bankruptcy.
I don’t think I know anyone of my age that did not get sucked into the buy 12 for a penny deal.
When CDs first came out it was a great way to restock your library quickly. But then came those postcards and the need to mail them back lest you be stuck paying $25 for a Debbie Gibson CD (again!). During their peak in 1996, Columbia House’s revenue hit nearly $1.4 billion.
And now according to Rolling Stone, “…Columbia House still boasts 110,000 members, the company listed total assets of $2 million while owing $63 million to over 250 creditors. Columbia House’s fall has mirrored the CD and DVD markets themselves: In 2000, the music industry sold roughly $13 billion worth CDs. That total was down to $1.85 billion in 2014. Similarly, DVD sales have plummeted by 50 percent between 2006 and 2014.” Streaming music has won the battle for now.
It was so appealing when we saw this TV ad especially with the secret gold box.
Don’t worry, even Beaver was fooled.
Hard to believe you could get so many 8 Track tapes!