Radiohead says: Pay what you want for our new album

[trackaghost]

This is really shaking up the music industry right now, but I think it's pretty exciting stuff.


Radiohead Says: Pay What You Want
Monday, Oct. 01, 2007 By JOSH TYRANGIEL


Roughly 12,000 albums are released in an average year, so the announcement late Sunday night that the new Radiohead record, In Rainbows, will be out Oct. 10 is not itself big news. Sure, Radiohead is on a sustained run as the most interesting and innovative band in rock, but what makes In Rainbows important — easily the most important release in the recent history of the music business — are its record label and its retail price: there is none, and there is none.

In Rainbows will be released as a digital download available only via the band's web site, Radiohead.com. There's no label or distribution partner to cut into the band's profits — but then there may not be any profits. 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.

Radiohead's contract with EMI/Capitol expired after its last record, Hail to the Thief, was released in 2003; shortly before the band started writing new songs, singer Thom Yorke told TIME, "I like the people at our record company, but the time is at hand when you have to ask why anyone needs one. And, yes, it probably would give us some perverse pleasure to say 'F___ you' to this decaying business model." On Sunday night, guitarist Jonny Greenwood took to Radiohead's Dead Air Space blog and nonchalantly announced, "Hello everyone. Well, the new album is finished, and it's coming out in 10 days. We've called it In Rainbows. Love from us all."

While many industry observers speculated that Radiohead might go off-label for its seventh album, it was presumed the band would at least rely on Apple's iTunes or United Kingdom-based online music store 7digital for distribution. Few suspected the band members had the ambition (or the server capacity) to put an album out on their own. The final decision was apparently made just a few weeks ago, and, when informed of the news on Sunday, several record executives admitted that, despite the rumors, they were stunned. "This feels like yet another death knell," emailed an A&R executive at a major European label. "If the best band in the world doesn't want a part of us, I'm not sure what's left for this business."

Labels can still be influential and profitable by focusing on younger acts that need their muscle to get radio play and placement in record stores — but only if the music itself remains a saleable commodity. "That's the interesting part of all this," says a producer who works primarily with American rap artists. "Radiohead is the best band in the world; if you can pay whatever you want for music by the best band in the world, why would you pay $13 dollars or $.99 cents for music by somebody less talented? Once you open that door and start giving music away legally, I'm not sure there's any going back."

The ramifications of Radiohead's pay-what-you-want experiment will take time to sort out, but for established artists at least, turning what was once their highest value asset — a much buzzed-about new album — into a loss leader may be the wave of the future. Even under the most lucrative record deals, the ones reserved for repeat, multi-platinum superstars, the artists can end up with less than 30% of overall sales revenue (which often is then split among several band members). Meanwhile, as record sales decline, the concert business is booming. In July, Prince gave away his album 3121 for free in the U.K. through the downmarket Mail on Sunday newspaper. At first he was ridiculed. Then he announced 21 consecutive London concert dates — and sold out every one of them.

http://www.time.com/time/arts/articl...666973,00.html

'In Rainbows' is out in 10 days and YOU decide how much to pay


After a false alarm, believed to be a hoax, Radiohead have officially revealed their seventh album is ready, and will be available for download in just ten days' time.

In a shock announcement on their official website today (September 30), a message from guitarist Jonny Greenwood read: "Hello everyone. Well, the new album is finished, and it's coming out in 10 days; We've called it 'In Rainbows'. Love from us all. Jonny"

As if that news wasn't a big enough bombshell, the band have not set a price for the download version of the album, leaving the 'price' field blank and letting the customer decide how much to pay for the release.

Greenwood's message linked to this site where the album has been made available to pre-order as a download and a discbox. The download version will be available on October 10, while the discbox will be ready to ship on or before December 3.

The discbox, costing £40, contains the new album 'In Rainbows' on CD, and on two 12" heavyweight vinyl records. There is also a second enhanced CD containing more new songs, along with digital photographs and artwork. The set also includes lyric booklets and all are encased in a hardback book and slipcase.

'In Rainbows' track listing is:

'15 Step'
'Bodysnatchers'
'Nude'
'Weird Fishes/Arpeggi'
'All I Need'
'Faust Arp'
'Reckoner'
'House Of Cards'
'Jigsaw Falling Into Place'
'Videotape'

Meanwhile, the second CD to be included in the discbox features a further eight new songs. Those are:


'MK 1'
'Down Is The New Up'
'Go Slowly'
'MK 2'
'Last Flowers'
'Up On The Ladder'
'Bangers And Mash'
'4 Minute Warning'

Anyone who buys the boxset will automatically be able to download the album from October 10.

The album, the band's seventh studio effort, will only be available exclusive through Radiohead.com for now, but Radiohead say they are current planning a "traditional CD release" of 'In Rainbows' for early next year.

http://www.nme.com/news/radiohead/31462

[danax6]

Originally Posted by trackaghost

This is really shaking up the music industry right now, but I think it's pretty exciting stuff.

I agree. It's a pretty awesome "fukc you".

[sara1998]

I think it's pretty amazing, and, I really don't listen to Radiohead, but I'm half tempted to go and pay them $20 just for their initiative. I hope it works out for them.

[HejiraNYC]

Jane Siberry instituted this policy a couple of this years ago for her back-catalog. Interestingly, she posts the download statistics and surprisingly the average "donation" paid per download is very close to the suggested full-price. But then again, she has a very small, albeit cult following. But then again, Radiohead has a huge cult following. I wouldn't be surprised if Radiohead makes a total killing on this, especially since they are not splitting the pie with a label or iTunes. Somehow I believe this is going to end up being a very, very heavy blow to the music industry- of historic epic proportions.

[carrie721]

****ing sweet. it was only a matter of time before this happened.

[Sarah]

like.. i'm over radiohead's music, but this move gets a huge amount of respect from me. good for them.. i hope it makes a real difference.

[carrie721]

^ word to the maxxxxxxxxxxx.

[rubytuesday]

Originally Posted by Sarah

like.. i'm over radiohead's music, but this move gets a huge amount of respect from me.

Me too I'm bored by their music now.

[danax6]

Originally Posted by sara1998

I think it's pretty amazing, and, I really don't listen to Radiohead, but I'm half tempted to go and pay them $20 just for their initiative. I hope it works out for them.

Me too! Well, maybe not 20 bucks, but something.

[JazmenFlowers]

wow. interesting.

[shackin'up]

I'm gonna pay what it's worth, what ANY album's worth without a recordcompany to pay. 3 to five bucks. I really hope they pushed the bounderies musically too.

[MacMan]

Big respect for these guys doing this even though I'm not a fan... I would expect the majority of their large following will pay them something and not just take it. And I agree... I think this will be huge for them.

So this boxed version with all the extras... Who's distributing that? Them as well, or do they have a record co. doing that end?