Wake Up: The music industry has finally woken up. Universal Music Group and Sony Music Entertainment plan to cut prices for digital music downloads and add new features. “If you don’t offer burning, (consumers) will not buy it. It’s simple as that,” says Jim Long, CEO of RioPort.
Universal Music Group: 99 cents for singles and $9.99 for albums, AND portability capabilities, allowing people to play songs on devices such as MP3 players.
Sony Music: Will be offering not only burning capabilities, but it will drop its prices from $1.99 to $1.49.