Price Elasticity of Demand?

According to a VH1 poll, Nearly 75% Of Music Buyers In A VH1 Poll Tell Music Industry: ‘It’s The Price, Stupid!’

The VH1 poll found that 89% of music buyers think that CDs are not priced fairly. Only 8% said that a CD priced in the $14-$17 range was a fair price. Nearly half, or 46%, said that $10-$13 was fair, while 43% said that $6-$9 was in the fair range. The survey reveals that other music labels should pay close attention to UMG’s price breaks. Close to half, or 48%, said they think the other music labels will soon follow suit with similar price decreases.

[…] Of those surveyed overall, 20% have ever downloaded music, while 11% have downloaded music in the past six months. Of those who have downloaded, virtually all are aware of the Recording Industry Association of America’s (RIAA) lawsuits against downloaders. But their responses indicate that price breaks are much more likely than the threat of lawsuits to get them back to the music stores.