Capitalism or Disrespect in the Wake of Whitney Houston's Death?

By: Betsy Merena

Unless you've been living under a rock for the past five days (which clearly you haven't because you're here, reading blogs on Patch.com), you are well aware that legendary singer Whitney Houston passed away on Saturday.  

In the hours following her death, iTunes prices were raised on two different albums from Houston's collection in the United Kingdom.  People realized, outrage ensued, twitter was a hot mess, blah blah blah.  Eventually, it was discovered that Sony (who owns most of Houston's collection) not Apple was responsible for raising the wholesale price of those albums, which caused the retail price to reflect those changes.  Following the outrage, Sony announced that the price change had been a mistake, not intended to capitalize on the icon's death, and lowered the prices. Click here for a more detailed account of that story. 

But my question is this:  Is it really that wrong to raise prices on an artist's collection after they pass away?

I don't think it is.  It's the basic principle of supply and demand.  If the demand increases, the supplier can (and should, in my opinion) raise prices.  That's capitalism, baby.  

Prices weren't raised dramatically... just a few dollars per album.  If people want it badly enough, they'll pay.  And if they can't afford the few extra bucks, there are several other options: listen to the radio - it's like a Whitney-a-thon on the airwaves right now, borrow her CDs from a friend, or check out the audio section at your local library.

And I just don't buy into the argument that it's disrespectful to her memory. Whitney made records to make money; music IS a business, and she was a business woman as much as an artist.  She had a family to provide for, specifically her daughter.  If prices go up on her collection, the percentage of royalties that go to her estate increases, too - thus providing her daughter with more resourses to begin rebuilding her life after losing her mom.

Plus, you better believe that all Whitney Houston memorabilia and autographed items just doubled (or more) in value... so lucky you if you have something.  Put it on ebay NOW while the demand is high!

And think through history.  Think about all the musicians, painters, scultpers, etc. whose works skyrocketed in value after their deaths.   

So, I'm not totally convinced it was an accident that Sony raised those prices.  Personally, I think it was a savvy business move that they made purposefully.  I think they, unfortunately, caved under the backlash and changed their story.  

I think they should have stuck to their guns... what do you think?