Universal Music are to drop the price of CDs and other major labels will more than likely follow their lead. The hope is that this price drop will bolster CD sales, which have dropped year on year for the past five years.
The news of the price drops came within 24 hours after a report commissioned by GetJar – the second largest app store to Apple – was published. The report looks at the expanding app market and the key finding is that the app market will be worth a potential $17.5 billion by 2012. This would mean that the value of apps sold would be greater than the value of CDs sold in 2012, at a predicted $13.83bn.
We at Poker PR are always waxing lyrical about the potential of the ‘album app’ and can see that when the big record companies take this on board, they will finally realise that, as a format, the CD is dead. The possibilities of the album app are endless, allowing interaction with your fans on lots of different levels, connection to social media, offering exclusive (paid) content, and allowing user generated content (remix competitions etc.) to name only a few. A CD simply does not allow these capabilities.
If you are looking to produce an app and get on board with this rapidly expanding market we at Poker PR are here to help, contact us here.
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