Well we knew it and we all said it; music Cds are just a tad high. It isn't the economy it's the price that is slowing sales. Now we have some figures from a VH1 poll to prove it. Not to mention a few other statistics that the folks in the music business need to see.
|
That's what nearly three-quarters of the music buyers said in a recent VH1 poll about Universal Music Group's (UMG) coming price reduction and the overall value of music today in an industry vulnerable to downloaders. Of the music buyers, 72% said they liked the idea of the price break and that they would buy more CDs. The VH1 poll found that 89% of music buyers think that CDs are not priced fairly. Only 8% said that a CD priced in the $ 14-$ 17 range was a fair price. Nearly half, or 46%, said that $ 10-$ 13 was fair, while 43% said that $ 6-$ 9 was in the fair range. The survey reveals that other music labels should pay close attention to UMG's price breaks. Close to half, or 48%, said they think the other music labels will soon follow suit with similar price decreases. But when the downloaders were asked if the threat of lawsuits would prompt them to buy new CDs, only 35% said it was likely, 21% were neutral -- and a hearty 45% said it was unlikely that the threats would get them to shop for CDs at retail. |
I find it suprising that 8 percent felt that 14 to 17 dollars was a fair price for a music Cd. Theree are some other statisics that you can read at the Music Industry News Site. This VH1 telephone survey was conducted September 17-22, 2003 among a random national sample of 1,038 adults 18 and older. The results have a +/- 3.1% margin of error.
Source: mi2n.com
