Come Back, Come Back! - UMG Begs Buyers
Yes. It's true. Vivendi's Universal Music Group, the world's largest music company, has taken a machete to its price list.
The news comes on the heels of news that UMG parent Vivendi Universal, based in France, and America's NBC are getting into bed together, making them the world's sixth largest media company.
UMG now has a "$12.98 Manufacturer Suggested Retail Price on Virtually all Top Line CDs" and expects retailers to start selling the cheaper product around the beginning of October.
The aim is to bring music fans back into retail stores and drive music sales, says UMG in a puff release, going on, "The program, which will begin in the fourth quarter of 2003, will eliminate $16.98, $17.98 and $18.98 equivalent MSRPs. UMG believes retailers will begin offering the lower priced CDs to consumers as soon as October 1, 2003."
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As part of this new policy, UMG's labels plan to "significantly increase their direct-to-consumer advertising to raise music fans' awareness of the artists and their music".
"Concurrently, UMG will also reduce its wholesale price on cassettes so its MSRP for top line releases will be $8.98." says the company.
UMG's roster includes Ashanti, Mary J. Blige, blink-182, Bon Jovi, Mariah Carey, Sheryl Crow, Dr. Dre, Eminem, 50 Cent, Enrique Iglesias, India.Arie, Elton John, Diana Krall, Nelly, No Doubt, Puddle of Mudd, Reba McEntire, Stevie Wonder, Sting, t.A.T.u., Texas, Shania Twain and U2.
The new pricing also applies to UMG's 'historic catalog' with artists such as ABBA, Louis Armstrong, James Brown, Eric Clapton, Patsy Cline, John Coltrane, Ella Fitzgerald, Jimi Hendrix, Billie Holiday, Antonio Carlos Jobim, Bob Marley, Nirvana, The Police, Rod Stewart, The Who, Hank Williams and the Motown catalog, which includes The Four Tops, Marvin Gaye, The Supremes and The Jackson Five.
Universal Music Group comprises Decca Record Company, Deutsche Grammophon, Interscope Geffen A&M Records, Island Def Jam Music Group, Lost Highway Records, MCA Nashville, Mercury Records, Mercury Nashville, Philips, Polydor, Universal Music Latino, Universal Motown Records Group, and Verve Music Group, "as well as a multitude of record labels owned or distributed by its record company subsidiaries around the world". It also owns eLabs.
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