The chief executive of music retailer HMV has predicated that the CD will be dead in five years time.

Simon Fox said the market would be worth just £300million by 2014 – down from £900million last year.

By 2016, stocks of CDs will have faded from the shelves at HMV, he told The Sun.

"There will be a place for CDs, but it's difficult to see out more than five years,” he added.

The CD market reached its peak in 2004, but has since faced competition from the advent of digital downloads.

In a bid to overcome the decline, HMV has re-focussed what it sells in its stores, with 25% of the stock now consisting of technology products like headphones and MP3 players.