Universal Music Group Reduces CD Prices
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 manufacturer suggested retail price on virtually all of its top-line CDs in the U.S. The plan will eliminate MSRPs of as much as $18.98, and the company believes retailers… Read more »