Following up on my post Radiohead and Their New Model here is an excerpt from today's Just an Online Minute brought to us by MediaPost...
"Williams and Reznor aren’t the only musicians to experiment with new business models. In a well-publicized move, Radiohead last year made its new album, “In Rainbows,” available on a pay-what-you-wish basis. In the first three weeks the tracks were online, six in 10 downloaders didn’t pay anything, according to comScore. Of those who paid, the average contribution was $6. (Radiohead disputes these figures, but hasn’t yet issued its own.)
Musicians and industry executives will undoubtedly scrutinize these results, but it’s still way too early to draw any definitive conclusions. It often takes time for albums to find their audiences or for casual listeners to turn into paying fans.
Consider also, “In Rainbows” is now No. 1 on the music charts, having sold 122,000 copies since its release on Jan. 1 — three months after the group offered it online for free. On one hand, that’s less than half of the 300,000 copies the band’s last album sold on its first week out. At the same time, it also shows that making free tracks available online isn’t inconsistent with also selling them."
Read the entire piece HERE