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CD prices down - wholesale..
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PostPosted: Thu Sep 04, 2003 12:36 am    Post subject: CD prices down - wholesale.. Reply with quote  Mark this post and the followings unread

http://ap.tbo.com/ap/breaking/MGA9PGOV5KD.html

Universal Music Slashing CD Prices in Hopes of Reviving Sales
By Alex Veiga
The Associated Press

LOS ANGELES (AP) - The world's largest recording company said Wednesday it would slash wholesale CD prices in hopes of reviving music sales, which have dropped 31 percent industrywide in the last three years.

The suggested sale price on a majority of its CDs will be cut by $6 to $12.98, Universal Music Group representatives said. Retailers have the final say on pricing, however.

"We expect (this) will invigorate the music market in North America," UMG Chairman and CEO Doug Morris said during a conference call Wednesday.

UMG, the market leader among the world's five major recording companies, said some multiple disk packages or CD box sets would not be included in the pricing change. UMG's artists include U2, Sting and Jimi Hendrix to around $10 or less. Consumers could begin seeing the price changes as early as Oct. 1.

UMG's current wholesale price for a CD album is $12.02, with a manufacturer suggested retail price of $18.98. Under the new pricing structure, the wholesale price would be $9.09 and UMG hopes the retail price will drop to about $10. The wholesale price for CDs by a handful of performers, including Eminem and Shania Twain, will be about a dollar more, said Jim Urie, president of Universal Music & Video Distribution.

The company also plans to cut wholesale prices on its cassettes and change the suggested retail price to $8.98.

"Our new pricing model will enable U.S. retailers to offer music at a much more appealing price point in comparison to other entertainment products," Urie said. "We are confident this pricing approach will drive music fans back into retail stores."
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PostPosted: Thu Sep 04, 2003 12:07 pm    Post subject: Reply with quote  Mark this post and the followings unread

They must be severely affected by competition from electro-music.com Cool
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