iTunes Price Hike Hurting Sales

Billboard is reporting a slump in sales on songs using the new premium price of $1.29 in iTunes.  This is probably happening with higher priced songs on Amazon MP3 and Walmart MP3 also.

On Wednesday, one day after the price increase, the iTunes Top 100 chart had 40 songs priced at $1.29 and 60 with the original $0.99 price point. The $1.29 songs lost an average of 5.3 places on the chart while the $0.99 songs gained an average of 2.5 chart positions. [Billboard]

When will digital sales get it right? They got it right with taking off the DRM, but this tiered pricing has to go.  Seems we’re close, but still so far away!

[Source: Absolutepunk, Billboard]