Universal Music Slashing CD Prices

[Discomanic]

It looks like Universal Music is taking some advice. From the AP: The world's largest recording company said Wednesday it would slash wholesale compact disc prices in hopes of reviving music sales, which ahve dropped 31 percent industrywide in the last three years. The suggested retail price on a majority of its CDs will be cut by $6.00 to $12.98, said Univeral Music Group representatives. Retailers have the final say on pricing, and UMG hopes the actual sales price will drop to about $10.00 or less. :lol:

[keefelc]

I read this great news also (now they just need to release some stuff that I want to buy!). Our newspaper commented that the music industry keeps blaming their declining sales on illegal downloads and copying while ignoring their constantly rising suggested retail price for a CD these days (around $18.99). The article also mentioned the quality of much of the product that's now being released.

Wonder how long before the other major labels follow with a similar price decrease?

[K-Bee]

This could be the start of something big. let's hope other labels will follow through soon.
Any ideas? is this a US only price cut or will it happen worldwide?

[NickNack]

This could be the start of something big. let's hope other labels will follow through soon.
Any ideas? is this a US only price cut or will it happen worldwide?

Hi K-Bee,

Right now it's just in the U.S. Here's the press release on the Universal site:

http://new.umusic.com/News.aspx?NewsId=182