Universal Music has officially announced plans to pull down the prices of its CDs to as much as a mere $6 (3.98 Pounds). The new pricing structure would be tested by the giant label across all American music stores, selling whole albums for $6-$10 (6.63 Pounds).

With the introduction of cheaper CDs, the company is reportedly looking to "bring new life into the physical format", as has been shared by Universal Distribution President Jim Urie. Starting next month, most of the new released would carry a suggested list price of $6, $7, $8, $9 or $10. This would make it possible to release the more expensive "deluxe editions", which would be releases with elaborate art and added bonus tracks, as set against bargain-basement standard versions.

The pricing structure of Universal seems to echo a similar development in 2003, when the label had cut down the recommended cost of top CDs from about $18 to a mere $13.

With the latest move, Universal is trying to offset the lower price points by hiking the volume of mostly waning CD sales.

CD sales across US were down by about 1.8% last year, a drop which came after 2008's 19.7% decline. Since 2000, sales of CDs have seen an overall drop of 51%.