No More ‘8 CDs for a Penny’ as Columbia House Files Bankruptcy

Remember that feeling of pure joy when your new DVD, VHS, CD, Cassette, Record or 8-Track would show up in the mail? Well, '8 CDs for a Penny' is a thing of the past as the subscription company calls it quits after mailing out music and movies to Americans for the last 60 years.

While digital media outlets such as Netflix have cut into their profits, according to former Columbia House director of A&R and marketing (1996-1999), the main reason that the 'Spotify of the 80s' is shutting down is because "No one cares about owning CDs anymore."