When I heard that Radiohead would be releasing their newest album, "In Rainbows", on a pay-what-you-want basis I couldn't help but be very skeptical. How can you expect consumers, whose main objective is to get as much as possible for as little as possible, to chose to pay an amount of money that would produce any type of profit? I do applaud the band for trying something different in this ever-shifting music biz. It did get them a lot of press coverage, but should they have put so much trust into there fans?
According to Comscore, while 38% of consumers payed for "In Rainbows", a wopping 62% decided to take the album for free. A testament to the quality of the album or the state of the music industry and its fans?
I am surprised at how many did pay for the album. Though it does scare me that if so many fans of a super-group like Radiohead won't pay for their music what can a struggling independent artist/band expect when trying to release their own album? While it is a innovative experiment, the pay-what-you-want strategy is something that only already commercially successful artists could utilize with any effectiveness.
This case represents how the majority of fans all around the world tend to feel that they shouldn't have to pay for music that can be digitally downloaded.
Is this an issue that plagues Radiohead's and similar bands' fans or does it span across genres.
In the name of science I challenge Yanni to release his next album on a pay-what-you-want basis.
Link:Radiohead's album "In Rainbows" draws a surprising amount of freeloaders
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