Over 3 million consumers receive refund cheques from music companies

vbimport

#1

I just posted the article Over 3 million consumers receive refund cheques from music companies.

Last
June, five major music companies and three music retailers had a class-action
antitrust lawsuit placed against them accusing them of illegally
inflating CD, cassette and…

Read the full article here:  [http://www.cdfreaks.com/news/7801-Over-3-million-consumers-receive-refund-cheques-from-music-companies.html](http://www.cdfreaks.com/news/7801-Over-3-million-consumers-receive-refund-cheques-from-music-companies.html)

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#2

“Even though this settlement took place last June, I have yet to hear about any major news about falling CD prices apart from the wholesale price drop by Universal.” Odd… I’ve noticed that since then virtually every new release is $ 9.99 and under. As a matter of fact I can’t recall a time since then that I’ve had to pay more than ten dollars for any CD! Definately a vast improvement on this end. It’s odd how different shoppers find different things…
[edited by jab1981 on 21.02.2004 14:08]


#3

Universal was the company that vowed to lower the prices but never did. Around here, I can only find a few that are $9.99 or less and those are strictly new releases and mostly crap rap.


#4

I shop mostly at Best Buy… and while I can think of a few instances where a CD was over priced (by that I mean above twelve dollars) I can think of far more CD’s that were under ten. I can even think of a few that were six bucks. New and old releases alike. If the CD was over-priced usually a simple internet search would yield a copy in a more respectable price range. I honestly fail to see anyway anyone who shops at Best Buy or similar stores could not notice the difference in price. Regardless of whether the specific title you want is cheap… it’s fairly hard to miss the loads of CD’s at $ 9.99. I guess my point is that to imply there hasn’t been any change is ridiculous. The change so far has been almost immediate and very obvious. Or perhaps I’m the only one remembers CD’s not being $ 9.99… Who knows. A valid point is raised in the complaint against iTunes though. They’ve actually raised their rates. I remember when you could get any album for $ 9.95… now they’re charging upwards of $ 15 in some cases! Outrageous. Negative reactions would be better spent against problems like these.
[edited by jab1981 on 21.02.2004 16:54]


#5

Wal*Mart and BestBuy are selling below wholesale as a loss leader. They hope that you will buy something else while in the store. These prices are artificial and not indicitive of the true market. This is one of the reasons why Tower Records is in chapter 11 bankruptcy. http://www.cdfreaks.com/news/9071
[edited by Crabbyappleton on 21.02.2004 17:10]


#6

Thanks for the info. As I live in Ireland, I have not been aware of shops in the US dropping their prices since the settlement last June apart from Universal. The only price changes I have seen here are increases. :r


#7

Hmmm… hadn’t noticed them at Best Buy. But I have noticed it in other stores as well. And I think the big difference is, Best Buy has always used this practice to some extent. I remember the RIAA trying to sue them for selling the last Backstreet Boy release at $ 9. However the difference is in that it’s now with more than just one or two new releases. It’s quite common through out the store. That’s the thing I noticed. It went from a small percentage of releases, to loads of CD’s through out. So I’m not exactly counting the rather standard practice you talk about. These aren’t just heavily advertised new releases anymore… these are standard releases from lesser known bands. Pete Yorn’s last CD… $ 6. Black Rebel Motorcycle Club’s last CD $ 6. These aren’t going to draw in the crowds you’re speaking of. I just picked up several CD’s (not new releases) from Amazon.com as well. They have loads of CD’s for $10.99. I mean I could go through store by store and let you know how all the prices have dropped steeply. Hell even FYE, the local shop is now selling CD’s for around $ 13… which may not sound like that good of a deal. But remember not two years ago most of their CD’s were $ 18+. So yes, prices are dropping. Sure some of it is encouraged by the practices Best Buy has been doing for years… but the prices are dropping none the less. I guess if you don’t want to see the change that is every where around you, you can wear the blinders. But the change is there… like it or not.


#8

Sick…now I’m just awaiting my check =)