With AOL’s WalletPop blog today including music CDs in its report on 20 products that are cheaper today than 10 years ago, we're pleasantly reminded of the value of this tried-and-true format, not to mention great music in general. The post notes that:
“Thanks to inflation, what cost just a buck in 2000 would cost $1.27 today. Happily, the price of some products has not kept up with that inflation; and in some cases, they are even cheaper today than ten years ago.”
For CDs the latter is true, as the average CD price in 2010 is $13.02 compared to $14.04 in 2000. Adjusted for inflation, CDs are estimated to cost $17.83 in 2010, meaning fans today save about 25 percent compared to 10 years ago. Since CDs represented more than half (56 percent) of the music sold in the U.S. in 2009, that’s no pocket change!
We’re also encouraged by the affordability of digital music services along with the growing number of options in the marketplace. Today’s online marketplace boasts more than 400 licensed music services worldwide. A few examples of some hot steals: online retailers like Amazon.com featuring “Special MP3 Deals,” including its “100/$5” which prices 100 digital albums at $5.00 each through the end of July or its “Bestsellers at $7.99” offering popular new albums (think Drake’s brand new Thank Me Later, among others) for less than eight bucks! Not to mention iTunes’ free singles and music videos of the week, or free music video streaming through major label-supported services like Vevo and YouTube, and Internet radio listening via popular sites Pandora and Slacker.
Any way you slice it -- from CD loyalists and vinyl aficionados to our digitally-initiated music lovers -- fans today have a wide variety of ways to access music, often at lower than average prices.
AOL’s WalletPop blog (http://www.walletpop.com/blog/2010/06/30/20-products-that-are-cheaper-today-than-10-years-ago/#ixzz0sRDtmF4K)
Liz Kennedy, Deputy Director, Communications, RIAA