As a result of the pressure of online music sales and in the hope to bring back clients to the shops Universal Media Group (UMG) is planning to permanently lower the price of music CD’s. The new prices will be $6, $7, $8, $9 and $10. In the meantime the company plans to release more exclusive and limited edition versions at higher prices.
The move comes after three years of decreasing sales in the 15-19% range. The prices will bring physical cd’s in line with pricing for music downloads. The changes have been widely welcomed and are seen as a sign that the industry is finally open to further adapting to changes in the way people access, and pay for music.
UMG is responsible for 30% of album sales in th US and its management expects the new prices to incentivise its clients back into the shops