After last Saturday death of super star Whitney Houston, her album sales went through the roof. The same happened with Michael Jackson in 2009. Since his death, Jackson has made 1 billion dallors and sold 9 million more albums. After these artists death iTunes as well as their record label increased the price of their albums. Just after a couple of hours after Houston's death the price of her cds went from $4.99 to $7.99 on iTunes. Because of their death, the demand for their CDs increase and people were willing to pay a higher amount because the artist has became more popular. Houston and Jackson once again topped the music charts after their deaths. After several people complained publicly about how the increase in price was being " greedy", the price went back to normal and people continued to purchase their albums.
4 comments:
That is insane that the price of the c.d. nearly doubled after Whitney Houston's death. It is almost disrespectful how the fact that sellers are using her death to make a higher profit for themselves. You would think they would be more respectful to both Whitney and her family. Society truly has lost a sence of respecting people and families in moments of tradgedy. We have become a money obsessed society and it is shameful.
Well, in a economically dominated society where society is dominated and greatly influenced by economics, markets will attempt to capitalize on anything. That's just how it works.
Sarah, I don't have anything to say about your post. Brittany, I have to disagree with your final and usual point on the unacceptable degradation of moral values in our society due to an increase in economic focus. This is just how it works. We have not "become" a money obsessed society: we've always been one. Our society was partially founded on the argument that we should be able to keep the money we earn. Also, who is to say the money is solely going to the record companies? Perhaps Whitney's family receives a significant proportion of her future sales. Keep in mind this is all in addition to the enormous inheritance her immediate family will receive. While the doubling of C.D. prices can be seen as a merely "disrespectful" utilization of Houston's celebrity, it fundamentally highlight the supply/demand cycle. As Houston's accomplishments and dark days are highlighted,as her name continues to be broadcast on BBC to CNN to the Onion, demand for her product, her music, rises. It would be an economic sin not to capitalize on the rise in demand with a rise in prize.
That's not to say that "I Will Always Love You" won't be playing in my car as I drive home tonight.
I don't see a problem with this. There's more demand, and people are willing to pay more. That's all. You would have to be stupid to not jack up the price. Sure, you might look like kind of a bad person to some, but they can get over it. Business is all about being greedy. So anyone who calls the record companies greedy has obviously never tried to run a business.
Brittany, if you truly don't like our country because our society has become a "money obsessed society" and is "greedy" then there is no reason why you shouldn't leave. No one is forcing you to stay here, and I hear the weather is nice in North Korea. The beauty of this country, as Alex said, is that we get to keep what we earn. Is it iTunes' fault that they want to make loads of money if the opportunity arrises? Passing on it, as Alex said, would be an "economic sin."
Post a Comment