News
Universal to Raise Price of CDs by $1
Universal Music Group will raise the suggested retail price of its CDs by $1 to improve profit margins for merchants after many balked at the company’s push to slash prices, a source familiar with the plan said Friday. The move could leave consumers paying about $11 for a popular CD. Universal’s new suggested retail price will be $13.98, but most retailers typically charge less than that amount. UMG is the world’s biggest record conglomerate, with artists that include U2, Eminem and Shania Twain. Its move comes just three months after the company cut wholesale prices and reduced its suggested retail… Read more »