With a single drastic price cut, Sony Music Unlimited just opened a new front in the already heated battle among music streaming services trying to grab market share. Until today's cuts by Sony, $9.99 a month was almost industry standard for ad free unlimited music streaming to all devices.
Royalty payments make charging less unprofitable; and for consumers who don't want to pay, most music services offer a free ad supported service tier.
But perhaps motivated by yesterday's iTunes Radio announcement, Sony has slashed it's Premium Sony Music Unlimited rates 50% from $119.88 per year to $59.99 (€59.99) for a limited time. Sony PlayStation Plus members can subscribe for $41.99 (€41.99) - 65% off the regular 12 month rate.
It's an expensive experiment, and one that only a corporation with Sony's deep pockets can sustain for long.