US record labels are turning their back on price slashing tactics to get their artists in the charts, no longer able to subsidise loss making sales. Instead label bosses hope they can entice music buyers with a series of ‘extras’, in a similar vein to DVD movie releases.
Explaining the initiative Don Van Cleave, president of the Coalition of Independent Music Stores, told reporters: “The National Association of Recording Merchandisers met in September to discuss new sales strategies. We told labels 'Include a DVD that shows the band backstage and on the tour bus talking about nothing. Consumers love that stuff." The idea will be tested this Autumn when new albums from Shania Twain, Foo Fighters and Tori Amos are accompanied with limited edition DVDs.
Labels hope the ‘extras’ will overcome CDs doubling in price – summer price slashing saw chart albums retailing at $9, now back at full price the big releases will be retailing at over $18.