Supposedly, it has nothing to do with the lack of good music being produced (I hate bubblegum pop, which seems to make up 90% of what is released these days), and nothing to do with the fact that the major labels have released *fewer* new albums in 2002 than they did in 2001.
Additionally, they seem to think that it has nothing to do with the fact that many of us think it's absolutely crazy to spend $20 on a CD. As the economy goes sour, the prices of CDs go up, and we're supposed to buy them?
Unfortunately, they're wrong. At least where I'm concerned. I don't mind buying CD's for $10-$12. However, there is no way I will spend almost $20 on a single CD. It just isn't going to happen. As CD's have risen in price over the past couple of years, I've bought fewer and fewer of them. I don't even download music much, I just don't like getting ripped off.
I've found hope, though. There's a possible chance that, maybe, just maybe, one of the major labels has finally realized how stupid they are. According to an article on CNN Money, Universal Music Group is planning to cut the Manufacturer Suggested Retail Price (MSRP) on essentially all of it's CD's to $12.98. Many of these CD's currently retail for $18.98.
It's only one company, but it's a start. Let's hope the rest of the industry pulls their heads out of their butts and follows suit.