Amazon Drops Price of Top Selling MP3 Tracks to $.69

Amazon has dropped the price of its top selling music tracks to $.69 in an effort to compete with iTunes, according to the L.A. Times.

The Seattle online company is now pricing select top-selling tunes for 69 cents, down from 89 cents previously. Many of the songs in Amazon's 69-cent store sell for $1.29 on iTunes, including Katy Perry's "E.T.", Jennifer Lopez's "On the Floor" and Lady Gaga's "Born This Way."

"The average music consumer spends $46 a year on digital music, which is half of what it was last year," says Russ Crupnick, digital music analyst at the NPD Group. "The question is not whether you can sell a 69-cent track. It's whether you can get a customer to spend $69."


Amazon has also launched a Cloud Music Player that lets you save your downloaded purchases in the cloud and stream them to various devices. Unfortunately, iOS devices are not natively supported.

Apple is rumored to have just acquired iCloud.com for its own cloud music service.

Read More [via MacRumors]