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.
“We think it will really bring new life into the physical format,” Universal Music Group Distribution chairman/CEO Jim Urie says.
Full Story: Reuters
It took them how long to figure this one out? Will this plan have any positive results?