Yes, that's true. Except (in the US at least) regulators are set by Congress and Congress is effectively controlled by lobbyists from those companies. Capitalism at its finest. I don't know if the same happens in Europe. I certainly hope not.
As for whether the prices actually are set or not, I can't give evidence for tv/films. But prices for video games are for the most part set. Almost always 360 and PS3 games are $59.99 when they just come out, whether the game is expected to suck or be one of the best games ever. PC and Wii are $49.99. Sure the price drops over time, but the competing systems almost always keep the same price for the same game. There are rare cases due to a game just being better on one system over another. But that to me seems like they're talking to each other. This is also regardless of the publisher, although I know Microsoft publishes most of the 360's games. Don't know about the others.
Similar thing goes for music. Just jumping on amazon and looking up the newest releases, the prices range from $9 - $15, and that range seems to be set more by the popularity of the artist and the amount on the cd. And once again that is regardless of the music company.
Sure you can say that these prices have been set by consumers deciding whether or not to buy at a certain price. But then again isn't the enormous torrenting community consumers saying that they don't like the prices? And I wouldn't be surprised if the torrenting community is the excuse these companies are using to keep prices high if someone complains, be it government or civilian. That's just my take on it, but I'm extremely biased against the capitalism that exists in the world today. Would love to hear someone else's opinion on this.









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