This link has been bookmarked by 42 people . It was first bookmarked on 19 Dec 2007, by Eva 01.
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When Radiohead said it would release its new album, In Rainbows, as a pay-what-you-will digital download, you'd have thought the band had gone communist. After all, Thom Yorke and company are one of the world's most successful groups — a critical darling as well as a fan favorite for nearly 15 years. They hadn't put out a new album in more than four years, and the market was hungry for their next disc
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In the first month, about a million fans downloaded In Rainbows. Roughly 40 percent of them paid for it, according to comScore, at an average of $6 each, netting the band nearly $3 million.
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While pay-what-you-will worked for Radiohead, though, it's hard to imagine the model paying off for Miley Cyrus — aka chart-topping teenybopper Hannah Montana. Cyrus' label, Walt Disney Records, will stick to selling CDs in Wal-Mart, thank you very much. But the truth is that Radiohead didn't intend In Rainbows to start a revolution. The experiment simply proves there is plenty of room for innovation in the music business — this is just one of many new paths.
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It turns out the gambit was a savvy business move. In the first month, about a million fans downloaded In Rainbows. Roughly 40 percent of them paid for it, according to comScore, at an average of $6 each, netting the band nearly $3 million.
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Whoever gets their opinion in first has all that power.
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