Whether it be classical masterpieces from the likes of Beethoven or more mainstream rock n’ roll such as that of Guns n’ Roses, music has indeed for a long time has had a profound effect on mankind. Hence, it’s no surprise that this vertical has now also made to the most expensive list with the addition of “Somewhere There’s An Angel” from the Pop group, The Thurston Revival. This new single from the group has now been categorized as the world’s most expensive song with a price tag of $160 and comes on a 12 inch vinyl only record. To ensure that this incredibly high price tag preserves the song’s exclusivity, one of the foremost music business newsletter, Record of the Day has stated that, only 100 copies of the record will be produced for sale. Furthermore, the sleeve artwork for the record has been contributed to by ten different artists.
The music industry in the last few years has been of the very few verticals that has maintained its trend of cutting prices on CDs and records, irrespective of the global economic conditions. This trends can partially be attributed to the rising number of file sharing online services as well as short sightedness of record labels who spend insane amounts on marketing, rather than focusing on bringing the right kind of music to the right kind of audience. In a recent report, it was observed than an unnamed music band’s new album was marketed by the record label, where in $3.2 million were funneled in, while at the end, the album couldn’t even make it to the Top 40. This monotonous downward trend in the music industry is definitely going to get a break with the $160 record of Somewhere There’s An Angel.