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Universal is hoping for a "dramatic and sustained increase" in sales
Music fans in the US will enjoy cheaper CDs after the world's largest record company, Universal, announced plans to cut the price of albums by up to 30%.
Universal - which has artists like U2, Eminem and Sir Elton John on its roster - said it hoped to "invigorate" the market after a three-year slump.
From October, the company will put the "suggested" price for most CDs at $13 (£8.25) - down from $17-19 (£11-12).
Album sales in the US dropped 15% between 2000-2002 - blamed on "piracy".
The music industry says it has lost out to free, unauthorised song sharing websites and the proliferation of CD-copying.
LONG LIVE FREE MUSIC
Music fans in the US will enjoy cheaper CDs after the world's largest record company, Universal, announced plans to cut the price of albums by up to 30%.
Universal - which has artists like U2, Eminem and Sir Elton John on its roster - said it hoped to "invigorate" the market after a three-year slump.
From October, the company will put the "suggested" price for most CDs at $13 (£8.25) - down from $17-19 (£11-12).
Album sales in the US dropped 15% between 2000-2002 - blamed on "piracy".
The music industry says it has lost out to free, unauthorised song sharing websites and the proliferation of CD-copying.
LONG LIVE FREE MUSIC
