Universal Betting on Lower Prices to Boost CD Sales
Date: Monday, March 29, 2010 @ 16:54:06 UTC

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. The major's "Velocity" pricing program responds to the continuing plunge in CD sales, taking aim at brick-and-mortar retail stores that have scaled back on floor space dedicated to music. The pricing adjustments will also bring CD prices more in line with what consumers pay for digital albums at online retailers like iTunes and Amazon. Complete Article

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