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Amazon Cuts Price For Hit Singles

Top tracks now cost 69 cents

April 29, 2011 9:25 AM ET
Amazon Cuts Price For Hit Singles

Amazon has lowered its price for top-selling songs in a bid to compete with top retailer iTunes in the downloadable music market. The company, which is presently a distant second place behind iTunes as the most popular download retailer, has dropped its prices for best-selling hits by Katy Perry, Lady Gaga, Justin Bieber and Jennifer Lopez to 69 cents, nearly half the cost of the same songs on iTunes, where they sell for $1.29. In many cases, Amazon was already selling the tracks for 89 cents.

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This is a very aggressive move, but it is consistent with Amazon's digital music strategy. The online store regularly sells albums at deep discounts, which has led to significant sales spikes for new and old records. Despite the significant price cut, artists and labels are unlikely to lose much money, as Amazon typically treats mp3 sales as loss leaders.

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Song Stories

“Whoomp! (There It Is)”

Tag Team | 1993

Cecil Glenn — a.k.a., "D.C." — was a cook at Magic City, a nude dance club in Atlanta, when he first heard women shout "Whoomp — there it is!" Inspired by the party chant, he and partner Steve "Roll'n" Gibson wrote a song around it. Undaunted by label rejections, they borrowed $2,500 from Glenn's parents and pressed 800 singles, which quickly sold out in the Atlanta area. A record deal came soon after. Glenn said the song was meant for positive partying. "If you're going to say 'Whoomp there it is,' and you're doing something negative, we'd rather it not have come out of your mouth."

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