After the conclusion of their previous contract, Radiohead has decided to go independent, and record and distribute their new album, In Rainbows, themselves. In fact, they are releasing the album on the 10th of October. (See http://www.pitchforkmedia.com/article/news/46015-new-radiohead-album-aaaaaaahhh)
It is their distribution strategy that is most interesting. There have been many bands that have done the independent recording route off course. They have a "box set" with the double CD, vynils, artwork photographs etc. for 40 pounds. Expensive, but you do get a lot I suppose. But it is their digital strategy that is impressive: download on MP3 (no DRM protection), with downloaders paying what they wish.
It is, as correctly pointed out by Questionable Content, not a new strategy. Webcomic authors are not the only ones to make out a living of mass patronage; but certainly one of the most noticeable. The idea is off course that people who really appreciate your work will pay something, presumably reflecting how much it meant to them. It is also a risky strategy, as there are also a number of stingy freeloaders out there, who don't like sharing bandwidth on bit torrent, let alone volunteer to pay for music!
Is this going to be a new successful direction for recording artists? I don't think so. Yes, big name bands like Radiohead can afford to do this. But can a start up band make a living out of donations from fans? The problem with this approach is, that the artist needs a reputation first - to draw the crowd. Only then, can they consider giving it away. The function of the reviled record label is really to take a gamble on a new band, finance their new album, promote and distribute their album; and hope that they become big.
Radiohead (and the Creative Commons mix push by the Beastie Boys a few years ago) are great efforts at "freeing music" but these guys have relatively little to loose.
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