MiniDisc technology was faced with new competition from the recordable compact disc (CD-R) when it became more affordable to consumers beginning around 1996. Initially, Sony believed that it would take around a decade for CD-R prices to become affordable – the cost of a typical blank CD-R disc was around $12 in 1994 – but CD-R prices fell much more rapidly than envisioned, to the point where CD-R blanks sank below $1 per disc by the late 1990s, compared to at least $2 for the cheapest 80-minute MiniDisc blanks.