How much would you pay for the new Radiohead album? How about nothing?
Radiohead announced this morning that they're selling their new album for whatever you want to pay for it. Essentially they are giving it away as a free download.
How this strategy changes the recording industry as we know it:
- MP3's are given away for free, but it generates interest in the release. In addition, in order to buy it an e-mail address must be given which can be used for future marketing campaigns.
- The more saturation the band gets, the more demand for their live shows. Earlier this year Prince announced that he was giving away his new album for free in the Daily Mail. As a result, his 21 tour dates in London sold out.
- The artist follows up the free download with CD or Vinyl package or box set for those who want the higher quality format with the liner notes and imagery.
- Since Radiohead is no longer tied to a label, all the profits remain theirs.
- While building their fanbase, they can tell their fans they're ready to record their next release and take pre-orders which they can then use to record and distribute the next album.
A good thing!
Rod MacQuarrie
in
consumer trends, media morphing
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Strategists & Planners
Comments (8)
That's great to hear! I've been waiting for a solid idea like this. If you can't beat 'em, join 'em... they say.
Posted by Shali Nguyen | October 2, 2007 7:18 PM
Posted on October 2, 2007 19:18
This shouldn't be viewed as 'sticking it to the man' and a triumph for all artists. Radiohead are only able to afford to do this giveaway because 'the man' put them in a position where they have fans enough, and bank accts large enough to be able to give the record away. The fact is the money they made as a major label act (working WITH the man) has financed this recording. The real question here is can an unknown, unestablished new artist make a record for free (at home) and hope that enough people will be interested to a) download it for free and b) will like it enough to pay for a concert ticket, t-shirt etc?
The reality here is that Radiohead have contributed to the further dissolution of the entire recorded music industry and all of the people who make even a modest living from it.I don't blame them for this one bit, but we shouldn't be confused as to what has allowed them to be in this position.
Posted by Chris Seldon | October 3, 2007 8:34 AM
Posted on October 3, 2007 08:34
I agree with Chris. What happens to the little garage band that could without the resources of big record labels?
That said, I'll be psyched to download the album...and feel guilty about not contributing. It will be like listening to NPR during pledge drives.
Posted by Michael Beavers | October 3, 2007 1:49 PM
Posted on October 3, 2007 13:49
The reality is that making decent money from music with or without a major label's support remains highly improbable. Not impossible, just not likely. If anything, the label's recoupment of the multitude of costs involved in making/promoting an album leave very little profit for a band, even after selling hundreds of thousands of copies (as you know).
Radiohead has paid more than its share of dues to be in the position that they are now in.
After more than a decade of non-stop playing, they have the achieved the impossible. They can afford to make, sell, and promote their own music.
Any model that provides hope for the thousands of "indie" bands to make music and have it be heard/supported by a decent number of people ain't a bad thing. The Man will no longer have the leverage he once had to keep the starving musicians starving.
Posted by Ernesto | October 10, 2007 2:08 PM
Posted on October 10, 2007 14:08
bands two wedding
Posted by for bands wedding | March 25, 2008 5:32 PM
Posted on March 25, 2008 17:32
bands two wedding
Posted by for bands wedding | March 25, 2008 5:32 PM
Posted on March 25, 2008 17:32
Hello,
Where have you found this Radiohead wallpaper?
Thanks,
Alfie
Posted by Alfie | July 11, 2008 11:48 AM
Posted on July 11, 2008 11:48
Alfie
This is just a screen shot, not a wall paper.
Posted by Misha Cornes
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July 11, 2008 1:38 PM
Posted on July 11, 2008 13:38