Friday, September 05, 2003
Universal (US) Cuts CD Prices in Response to E-Music "Piracy"
In a 'better late than ever' move, US music label Universal has announced they will be cutting CD prices by 25% to try and draw back some of the market which has been lost to mp3 sharing. CNN Money reports:
In a 'better late than ever' move, US music label Universal has announced they will be cutting CD prices by 25% to try and draw back some of the market which has been lost to mp3 sharing. CNN Money reports:
Vivendi Universal's (V) Universal Music Group plans to sharply lower the consumer cost for compact discs, in an effort to bring customers back into retail stores and boost music sales. The move comes as the music industry grapples with a continuing decline in retail sales in the face of rampant piracy and other problems. In a press release Wednesday, Universal Music said it will reduce wholesale prices and implement a $12.98 [US] manufacturer suggested retail.While this is definitely a case of too little, too late, it does show that some distributors are finally coming to understand that consumers need to be wooed back, not litigated against!
[Posted by Unknown] [10:18 am]
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