RECORD COMPANIES IN PRICE WAR WITH PIRATES
Following the rising rate of activities of intellectual property rogues who pirate musical and film works in Nigeria and which has seriously led to the decline in sales of original CD, VCDs and audio cassettes, many recording companies and retailers recently devised new marketing strategies to engage producers of fake CDs in price war.
Under this new method which is gradually becoming common in most cities in the country, most recordings companies have slashed their CD and VCD whole sale prices to N40 and N45 for newly released works, while retail prices in most open market is between N80 and N100 for CD and same with video compact Disc.
It was gathered that this new price method by most praise companies was introduced purposely as a means of checkmating piracy because pirated CDs on the streets sell for as low as N80 per dise. Investigations in the ongoing price war further showed that most recording companies have taken to street hawking of their works rising sales vans, wheel barrows etc.
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