The recording industry's greed caused this demise. If they had reduced prices instead of increasing them (after all, a CD costs 50 cents to make), as would have made sense after twenty years of manufacturing this medium, places like Tower and others would have continued to exist and make money.
Prices went the opposite way. For a number of years, full line CDs were $14.99. There was a time when EMI, I believe, reduced full line prices to $12.99. The problem was that the other labels didn't want to follow suit. After that, we slowly saw a decline in CD sales, and then a price increase upward, where full line at Tower were $16.99 to $18.99.
Tower used to have great sales: $11.99-$12.99 for full line, $8.99-$9.99 for mid line, $5.99-$6.99 for budget line. This spurred sales, and people bought and bought. But, for the greedy labels, this wasn't good enough, so, over time, these sales became less frequent. Tower would have a January storewide sale where everything was on sale, even imports and small labels that never went on sale.
Like every aspect of our great economy/society, it's all disintegrating and nobody gives a damn.
Prices went the opposite way. For a number of years, full line CDs were $14.99. There was a time when EMI, I believe, reduced full line prices to $12.99. The problem was that the other labels didn't want to follow suit. After that, we slowly saw a decline in CD sales, and then a price increase upward, where full line at Tower were $16.99 to $18.99.
Tower used to have great sales: $11.99-$12.99 for full line, $8.99-$9.99 for mid line, $5.99-$6.99 for budget line. This spurred sales, and people bought and bought. But, for the greedy labels, this wasn't good enough, so, over time, these sales became less frequent. Tower would have a January storewide sale where everything was on sale, even imports and small labels that never went on sale.
Like every aspect of our great economy/society, it's all disintegrating and nobody gives a damn.