Universal Music Group Lowering CD Prices

The Universal Music Group will be lowering its CD prices in an effort to attract more consumers to the CD format, according to Billboard. By pricing CDs at $10 or less, the format will become more competitive with the prices charged for digital downloads. The company hopes to offset the lower prices by increasing the number of CDs sold. UMG plans to increase the creation of deluxe CD packages featuring bonus tracks and other added content. The deluxe editions will continue to sell at a higher price, and company officials acknowledge there will other occasional exceptions to the $10 price point. The test program is expected to begin during the second quarter of 2010. UMG is the world’s largest music company. Its country division consists of the MCA, Mercury and Lost Highway labels and a combined artist roster featuring George Strait, Sugarland, Josh Turner, Billy Currington and Shania Twain, among others.