Music Pirates Would Buy More Music, But At The Right Price
So-called music pirates would be happy to buy the music they currently download for free, if digital music was just priced more competitively, reports research firm Ipsos Mori.
According to the company's report, the music, film and video game industries are pricing themselves out the market. The industries could increase their sales by getting their prices in line with what most people are willing to pay.
The study found that two-thirds of people who pirate music would buy it if the price was right.
Only 10% of those surveyed were interested in buying tracks at the going rate of 79p per track (at the iTunes Store.) 32% were interested in buying tracks if the price was dropped to 45p.
"It's a bit of a wake up call," said Ipsos' Ian Bramley. "This is a huge opportunity." Bramley said.
Do you think the music industry is leaving money on the table? What do you think the right price is for digital music downloads?
I guess I've been trying to recreate a Korg Electribe all this time..