[2] Primarily operating on reselling used goods, Amoeba has survived the decline of CD sales since the early 2000s with its trade-in program and the advent of the vinyl revival.

[citation needed] According to Los Angeles Times writer Michael Hiltzik, the location "instantly became a Hollywood landmark.

In addition, Amoeba Music frequently held free shows during store hours with locally- and nationally-known artists from a wide variety of genres.

In 2018, it was announced that the owners would demolish the site and replace it with a contemporary glass-and-steel tower with residential units and commercial space, and Amoeba would be moving.

[7][8][9] On April 27, 2020, Amoeba announced that due to the COVID-19 pandemic, the Sunset Boulevard location was closed permanently ahead of schedule.

Along with the statewide stay-at-home order issued by California governor Gavin Newsom in the COVID-19 pandemic, many non-essential stores were told to close to prevent spread of COVID-19.

Amoeba subsequently started a fundraising campaign on GoFundMe to pay the bills, as most of their income is derived from in-store purchases.

The store's vast collections of music CDs, LPs, DVDs, and books were temporarily in storage during construction at the new site during 2020 and 2021.