The Daily Telegraph, By Angela Monaghan, 8th of November 2007
Radiohead, the internationally renowned band, has taken the unusual step of telling fans that they can pay as much or as little as they like for the band's new album, In Rainbows.
In a break from industry tradition the UK band has told fans "it's up to you" what they pay to digitally download the album.
This isn't the first time that an artist has opted to charge nothing for an album, but the move is significant because Radiohead remains one of the biggest bands in the world.
Radiohead is free to sell its album directly from its official website because it is no longer tied to a record label. Guitarist Jonny Greenwood tells fans on the website that the album is only available to pre-order from the website, where it can be downloaded on release on October 10th.
While loyal fans are likely to want to pay the band something, customers could opt to pay as little 45p – the credit card handling fee. The album is also available separately as part of a £40 box-set which includes the album on CD, two vinyl records, a CD with additional songs, photos, artwork and lyrics.
It is likely that many of its millions of die-hard fans will be unable to resist buying the box-set, available in December, while Radiohead will not be required to share its profits with either a record label or shops.
James Bates, media and entertainment director at Deloitte, said: "Radiohead are clearly trying to build an independent business model that suits their needs. Unless record company giants wake up and find a model that delivers real value to artists, technology will continue to be used to bypass the record companies, and in comparison piracy will seem a relatively small problem."
Radiohead could even benefit from those who ignore the box set and choose to pay nothing to download the album from Radiohead's online shop, where they will be required to register their details and therefore become targets for future marketing campaigns.
Free albums also drive demand for live tours, which translate to pound signs for the artists behind them.
But there is no denying that the trend towards digital downloads is growing. Statistics from the BPI, which represents the UK recorded music industry, show that annual download sales have grown from zero in 2003 to 53 million in 2006, and more than 90% of single sales are digital. But the sales are still dominated by piracy, with only one in 20 of all music downloads made legally.
Matthew McEachran, retail analyst at Kaupthing said that while Radiohead's move reflected the general way the music market was going, it would not be a route chosen by all bands. "Retailers do a very good job of making bands visible to the mass market, and a lot of people still want the physical product," he said.
(476 words)
Radiohead, the internationally renowned band, has taken the unusual step of telling fans that they can pay as much or as little as they like for the band's new album, In Rainbows.
In a break from industry tradition the UK band has told fans "it's up to you" what they pay to digitally download the album.
This isn't the first time that an artist has opted to charge nothing for an album, but the move is significant because Radiohead remains one of the biggest bands in the world.
Radiohead is free to sell its album directly from its official website because it is no longer tied to a record label. Guitarist Jonny Greenwood tells fans on the website that the album is only available to pre-order from the website, where it can be downloaded on release on October 10th.
While loyal fans are likely to want to pay the band something, customers could opt to pay as little 45p – the credit card handling fee. The album is also available separately as part of a £40 box-set which includes the album on CD, two vinyl records, a CD with additional songs, photos, artwork and lyrics.
It is likely that many of its millions of die-hard fans will be unable to resist buying the box-set, available in December, while Radiohead will not be required to share its profits with either a record label or shops.
James Bates, media and entertainment director at Deloitte, said: "Radiohead are clearly trying to build an independent business model that suits their needs. Unless record company giants wake up and find a model that delivers real value to artists, technology will continue to be used to bypass the record companies, and in comparison piracy will seem a relatively small problem."
Radiohead could even benefit from those who ignore the box set and choose to pay nothing to download the album from Radiohead's online shop, where they will be required to register their details and therefore become targets for future marketing campaigns.
Free albums also drive demand for live tours, which translate to pound signs for the artists behind them.
But there is no denying that the trend towards digital downloads is growing. Statistics from the BPI, which represents the UK recorded music industry, show that annual download sales have grown from zero in 2003 to 53 million in 2006, and more than 90% of single sales are digital. But the sales are still dominated by piracy, with only one in 20 of all music downloads made legally.
Matthew McEachran, retail analyst at Kaupthing said that while Radiohead's move reflected the general way the music market was going, it would not be a route chosen by all bands. "Retailers do a very good job of making bands visible to the mass market, and a lot of people still want the physical product," he said.
(476 words)
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