Radiohead Presents A New Model For The Music Industry
Radiohead, the British band, recently announced that their latest release, “In Rainbows,” would be made available for purchase online for, hold your breath, whatever you wanted to pay for it. If you want to pay $20 or $2, or even nothing, it’s up to you! If you want a discbox however, it costs £40.
The point to note here, is that Radiohead is not a new and upcoming band, but a mainline band praised by critics, and selling millions of copies of their albums.
At a time when most larger artists are finding that most of their revenues are coming, not from records sales but from touring and mechandise sales, corporate sponsorships, etc. this comes as a refreshing model which deserves to be watched. Moreover, fans, would no doubt make sure that it spreads all over the internet, and guarantees them a mich larger audience, some of whom would no doubt download the album for free, but the majority however can be expected to pay for it. Moreover, Radiohead does not need to share this revenue with anyone.
While such a model would work best for the larger artists, it does sound a warning bell for the music industry to adapt … and fast.
Filed under: Business, Digital culture, Ideas & Innovations
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