How much would you pay for Radiohead's new album?
$5? $15? $20? Not a damned penny?
Then that's the price.
The English band has ditched their big label, and the big-label mentality of raising prices for new music, and will instead let their fans decide what their new album is worth to them. The band's seventh album, In Rainbows, can only be ordered online via Radiohead's website. When you add the digital download to your shopping cart on the site and view the contents, a place to input a price, and a question mark, appears next to the album where the price should be. When you click on the ?, you are informed that 'It's Up to You'. If you click on it again, you are informed that 'No Really, It's Up to You.'
Big labels, shockingly, are stunned by the move. "If the best band in the world doesn't want a part of us, I'm not sure what's left for this business."
While it remains to be seen if the move will ultimately benefit Radiohead, there are a few things that we know will probably happen. The move will expose many more people to the band's music, and that will lead to plenty of new Radiohead fans. And it will also likely mean that tickets to the band's concerts, which are already a tough find, will be in even greater demand.
As Chris Anderson once said, give away the music, sell the show.
BTW I found out about this story by reading about it via Jennifer Laycock's Facebook profile, where she had linked to GrokDotCom's post on the story. Gotta love it!
Pic via CommandZed
Tags:The Viral Garden, Marketing, Radiohead