Universal Music Group is hoping to reinvigorate sales of CD albums by cutting their prices to between $6 and $10 in the US. It’s officially a test as part of UMG’s Velocity program, and will apply to single, basic CD albums. However, at the same time, UMG will release more deluxe versions of albums at higher price points. UMG Distribution boss Jim Urie hopes the initiative “will really bring new life into the physical format”. Billboard claims rival majors are annoyed by the move to go below $10, but suggests they may cut their CD album prices to that price at least. It seems the move may not affect UMG’s digital album prices, though.
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