News
Music industry settles over CD price fixing
By Dennis Lloyd
Publisher, iLounge
Published: Friday, February 20, 2004
News Category: Digital Media
“The five largest music companies and three of the USA’s largest music retailers agreed Monday to pay $67.4 million and distribute $75.7 million in CDs to public and non-profit groups to settle a lawsuit led by New York and Florida over alleged price-fixing in the late 1990s.
Attorneys general in the two states, who were joined in the lawsuit by 39 other states, said that the industry kept consumer CD prices artificially high between 1995 and 2000 with a practice known as “minimum-advertised pricing” (MAP).
The settlement will go to all 50 states, based on population. Consumers may be able to seek compensation.”
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1
Ooooooh, send me my nickel.
Posted by Eriamjh on February 20, 2004 at 8:04 AM (PDT)
2
Could I point out that this article was published 18 months ago?
Posted by Andrew on February 20, 2004 at 8:16 AM (PDT)
3
Why do u say it was published 18months ago? were is the date and people are being sent compensation checks of around $14
http://www.nbc4.tv/entertainment/2860749/detail.html
http://seattle.bizjournals.com/seattle/stories/2004/02/16/daily27.html
Posted by windsurfer on February 20, 2004 at 11:04 AM (PDT)
4
Old news but still shows how the music industry has been screwing us for years.
Well, thanks to P2P I can get my $ back.
Posted by F The RIAA on February 20, 2004 at 12:55 PM (PDT)
5
yes im still working on my $ back - i say maybe at 7000 downloaded songs it willl break even - even that though i spent 450 on my ipod - so theres a lot of work 2 do - soulseek
steve jobs sux
Posted by gabe on February 21, 2004 at 8:10 AM (PDT)
6
The real question: Is the industry actually going to do anything about price fixing? Ignoring the fact that this punishment is just a slap on the wrist, when can I expect to go to my local music shop and buy CDs for a reasonable price?
Posted by Mountain Man on February 21, 2004 at 8:35 AM (PDT)
7
People who live in glass houses should not throw stones.
one music exec to another “hey, lets screw everybody by jacking up our prices, and then go sue people when they find a cheaper alternative to buying our music.”
He who is without sin may cast the first stone.
Posted by stones on February 21, 2004 at 5:09 PM (PDT)
8
i received my refund check in the mail today actually… $13.86..lol
oh well.. its $14.00 i will spend on indie musicians in the itunes music store.. such as electric candy shop (http://www.electriccandyshop.com)
support indie musicians!!!!!
Posted by Daniel Falkowski on February 21, 2004 at 11:18 PM (PDT)
9
I got my check too.
Posted by monkedsel on February 22, 2004 at 5:04 PM (PDT)
10
I find it amazing that the spokesman for Universal seems to believe that collusionary (illegal) pricing tactics could be “pro-competitive”. Forget about a civil suit, some of those execs should be thrown in a minimum security federal institution. with tennis courts and a swimming pool.
By the way I still want some of my money back for all the overpriced (and now obsolete) cassette tapes that I bought back in the 80’s and early 90’s.
Posted by Derek on February 23, 2004 at 7:42 AM (PDT)