Radiohead tells fans to choose their price for new album, In Rainbows
Radiohead has taken the unusual step of telling their fans to pay as little or as much as they like for the band’s new album, In Rainbows.
The band, famous for hits like Paranoid Android and Karma Police, has broken away from industry tradition and told fans ‘its up to you’ what they are willingly to pay to digitally download the album.
It is not the first time a band has bucked convention but as one of the biggest bands in the world, the move is significant.
Radiohead is no longer tied to a record label so is able to sell its album directly from their official site.
Loyal fans are likely to want to pay full price to support the band, but others can choose to pay as little as 45p – the credit card handling fee.
Media and entertainment director at Deloitte, James Bates, said that although the band’s decision was a ‘bold’ step, record companies should take note and adapt. ‘Radiohead are clearly trying to build an independent business model that suits their needs,’ he said.
Free albums are known to drive demand for live tours, translating into pound signs for the artists involved. Prince demonstrated recently this tactic is successful when he gave away his album 3121 for free in the UK via the Daily Mail. He followed this by announcing 21 tour dates in London – all of which sold out.