CD read speed indicates how quickly a CD drive can locate and retrieve data from a compact disc. It is typically measured in multiples of the standard CD speed, such as 36x or 56x, where 1x corresponds to 150 KB per second. Higher read speeds allow for faster access to files, quicker loading times, and smoother playback of multimedia content, making it an important specification for CD-ROM drives, audio CDs, and early computer storage systems.