08-30-2007, 11:59 AM
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#1
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Franchise Player
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HMV Slashing CD Prices
Globe and Mail:
When HMV Canada marketers recently tracked the music that young people were downloading online, they got a surprise. The youngsters, mostly male, weren't listening to the latest pop chart hits. Rather, they were tuning in to Pink Floyd and Led Zeppelin – the music of their parents' generation.
Now, in a bid to lure back these 18- to 24-year-olds to its stores, HMV, the country's largest specialty music retailer, is slashing prices of thousands of these older compact discs by up to 33 per cent – to $19.99 – effective immediately.
Of course the CRIA blames the price cuts on piracy: But Graham Henderson, president of the Canadian Recording Industry Association, says it's an effort to stem the tide of illegal downloading that threatens retailers and everyone else in the recording industry.
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