Rob Dickens, a former executive at Warner Music, told BCC News that he thinks if albums were marked down to $1, sales would explode. Fans would be more inclined to buy music. He thinks that major albums would sell 200 million copies. He also feels that this would also solve the piracy problem.
To my readers: Would you buy more music if a CD (or in particular, a quality digital copy for download) cost $1 each? Follow up question: Would you cease pirating music (assuming you do the dastardly deed)?
I know I would certainly be inclined to buy more music at $1 per album. Caveat: In uncompressed format - no mp3s. Buying mp3s of music is like buying thumbnails of a stock photograph. They're a meagre sampling of the genuine article.