I’ve always liked Radiohead, and I think have all of their CDs. Their latest album, In Rainbows, has created a bit of stir because people can download it and pay whatever they want, even $0.01. After about 10 days the average amount paid is around $8.50 – pretty close to the $10 that iTunes would charge and a lot more than the potential next-to-nothing that the band risked.
I really like this idea. It’s basically busking, which I have said is the world’s most honourable profession. You pay exactly what you think it’s worth, or the value of the act to you personally within your economic means. If you’re after just one song and really don’t want the rest you can pay what you think the one song is worth.
This is a group with a dedicated fan-base, and such creativity reflects their brand and re-connects with those fans. It’s a smart thing to try and the big-label music industry is watching closely, I’m sure. Our little piping and drumming music industry may want to watch, too.