iTunes To Be Forced To Drop Prices To Compete with TunesPro

New York, NY (Top40 Charts/ Comtex IT) - Music is the voice of the soul, or so it is said. But the distribution of our spiritual voice has become increasingly complex in recent years with the growth of the online market. The medium that once relied on physical media like Vinyl and CDs has crossed the border, beyond the need for a physical storage device and into the digital era. As dedicated music lovers continue to add to their collection of records and CDs, the majority of people prefer to buy their music online. In any discussion of music sales, iTunes is the elephant in the room. Apple has created the premier music destination with their digital music catalog and brand named iconic iPods.

While iTunes is unquestionably the industry's leader in terms of market share, the site no longer offers the best value for money to the consumer. Newer cheaper competitors are beginning to emerge that are basing their business model on a more affordable and widely accessible price point.

An example of a new mp3 website gaining popularity is TunesPro.com who just after launching offers individual songs for $0.19 while full albums are sold for as little as $2.00.

Meanwhile, the average song on iTunes continues to sell for $1.29, which up until now has been low enough to appeal to consumers deterred by the high prices charged for full album CDs.

This newer type of business model being pursued by Apple's competitors is heavily reliant on broadening the consumer base yet it remains to be seen if it's a realistic concept. Contingent upon results, it is likely that we will see an implosion reminiscent of the dot-com bust.

Ultimately the market will determine if the TunesPro strategy is economically viable, however if more digital song competition arrives charging a fraction of the current music costs, iTunes will be forced to lower their prices accordingly.

One thing is for sure, if you've been on the fence about buying your favorite musician's latest album then there has never been a better time to get it cheaply.