Credit crunch makes music lovers turn old CDs into cash

PR Log (Press Release) – Nov 28, 2008 – www.musicmagpie.co.uk, the only cash-for-old-CDs web site in the UK, has today announced that since the start of the credit crunch three months ago they have doubled the amount paid out to users. The site now pays out over £60,000 per month for old CDs and is expecting this number to double again over the next three months.

www.musicmagpie.co.uk has now paid out over £340,000 to users just for trading in their old CDs through the free to use web site.

Commenting on the musicMagpie’s rapid growth Craig Dawson, head of operations said; “We are very pleased with the way the site is growing. musicMagpie.co.uk is the quickest, cheapest and easiest way for users to turn their old CDs into cash. The site is free to use and we even pay all the postage charges so turning an old CD collection into cash is really simple.”

Each year over £21 million in old CDs are thrown away in the UK when they could be converted into cash. On average each user receives £30 for their old CDs as an old CD can be worth anything from 25 pence to £3.

Unlike auction sites, users can get cash for as many of their old CD’s as they want without the hassle and cost of selling each individually.

For full details of the service, visit www.musicmagpie.co.uk

Ends/

Press contact:  
Priya Mistry, Rob Fox
Context, 01625 511966  
www.contextpr.co.uk

About www.musicmagpie.co.uk
www.musicmagpie.co.uk is the only online CD recycling web site in the UK that is totally free to use. The number of online users is now growing by over 1% each day and on average a user receives between £28 and £36 per transaction they complete.

It is estimated that 2500 tonnes – over 30 million CDs – are discarded and sent to landfill each year, and tens of millions more are simply lying around unplayed. Hard-up British music lovers are sitting on millions of pounds of untapped assets that they can now convert to cash.

CD’s received by www.musicmagpie.co.uk are then resold to music lovers through specialist retail outlets or to distributors. CD’s sent in by customers that are damaged can be refurbished reducing the overall number sent to landfill each year.

How to use the site

·   Visit www.musicmagpie.co.uk
·   Enter the barcode number of the old CD
·   Enter your name and address details
·   musicMagpie send a freepost envelope to the user
·   Send in the old CDs
·   Payment sent within seven working days