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Unpublished Paper
How to Save the Recording Industry?: Charge Less
ExpressO (2008)
  • Zac Locke, University of California - Los Angeles
Abstract
“How much is music worth?” It is painfully clear that the traditional fifteen dollars charged for a packaged CD is too much. CD sales declined another fourteen percent in 2007, on top of years of similar erosion. As selling music online becomes the way of selling music of the future, record labels, music publishers and music e-tailers must find the ideal price point for their product. This Article defines the ideal price point at the price where the profit is maximized while making it easier for consumers to buy a song rather than download it for free. Technology, through replacing the CD with subscription services, preloaded devices, and illegal downloads, wants to make music close to free. Technology has significantly lowered the price of music. Instead of denying it or trying to stop it, the music industry needs give music to consumers at a price that will increase demand and propensity to pay for it.
Keywords
  • Music,
  • Technology,
  • DRM,
  • Downloads,
  • RIAA
Disciplines
Publication Date
September 24, 2008
Citation Information
Zac Locke. "How to Save the Recording Industry?: Charge Less" ExpressO (2008)
Available at: http://works.bepress.com/zac_locke/2/