Saturday, March 20, 2010

NEWS: Universal to lower CD prices to boost sales

NEW YORK (Billboard) – Universal Music Group (UMG) is embarking on one of the most ambitious efforts yet to boost U.S. CD sales, with the test of a new pricing structure designed to sell most new releases by current artists at $10 or less at retail.

"We think it will really bring new life into the physical format," Universal Music Group Distribution chairman/CEO Jim Urie says.

Here at Skratchdisc we say: "Do they make you take an IQ test to work in the music industry?!"

(Story reported by Ed Christman, 3/19)

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