Universal Music Group Slashes CD Prices to Between $6 and $10

Universal Music Group, one of the "Big Four" major labels, is the first to react to the years-long decline in CD sales. CD sales are down 15.4% this year, a slightly slower decline than the two years prior but still a huge drop, and though digital sales are nearing the volume of physical sales, revenues are still plummeting. Retailers and consumers alike have clamored for lower prices on CDs, and the labels have responded far too slowly, dropping from $18 to $13 in 2003.

Now, UMG is radically...