From an broadcast of WNYC’s Soundcheck on April 16, 2009…
After years of charging 99 cents across the board, digital music stores are implementing a three-tiered price structure for songs. iTunes is charging $17 or more for “passes” to exclusive content from Depeche Mode and the Fray. But in China, major labels are offering millions of song downloads for free through Google. John Schaefer of WNYC’s Soundcheck program asks Greg Kot, Chicago Tribune pop music critic and author of the upcoming book “Ripped: How the Wired Generation Revolutionized Music,” how the price of music is set. And marketing professor Priya Raghubir of NYU’s Stern School of Business tells us about the psychology of such pricing.
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