Warner Music slashes prices on catalog CDs

Warner Music Thursday said it had slashed prices on nearly 2,000 catalog CD releases, including albums by Madonna, Chris Isaak, Missy Elliott and others, in an effort to shore up sales.

Warner Music, which was recently bought by an investor group headed by Edgar Bronfman Jr., said the massive discounting program represented the most aggressive price cuts it had ever undertaken.

“After numerous conversations with many of our retail partners over the last year about ways in which we can help drive music consumers into stores, we created a program incorporating the most significant price reduction in our history on nearly 2,000 catalog titles,” a Warner spokesman said.

“We look forward to continuing to work with the retail community as we explore new and innovative ways to stimulate the retail market,” the spokesman said.

Catalog releases are albums that are at least 1-1/2 years old.

Under the plan, the company would expand CD selections priced at $9.98 by some 1,200 titles, with just under 600 others being lowered into the $11.98 and $13.98 price ranges.

Previously, some of the CDs had cost as much as $18.98.

Source: Reuters