In a move sure to set the music industry on fire, Radiohead has announced that their new album “In Rainbows” will be available only online…and you can pay what you want for it. Don’t want to pay? No problem. Want to pay $20? No problem. From Time:
Drop In Rainbows’ 15 songs into the on-line checkout basket and a question mark pops up where the price would normally be. Click it, and the prompt “It’s Up To You” appears. Click again and it refreshes with the words “It’s Really Up To You” “” and really, it is. It’s the first major album whose price is determined by what individual consumers want to pay for it. And it’s perfectly acceptable to pay nothing at all.
Personally I will pay for it because I like them and think they should get paid for the music they create…and I think they will end up making more money doing it this way than selling it through a label because now they get 100% of the money spent on the album, rather than the typical $1 per CD that a label artist receives. Radiohead