Pay as you wish. Not So Dismal After All John List and Uri Gneezy have appeared on our blog many times.
This guest post is the last in a series adapted from their new book The Why Axis: Hidden Motives and the Undiscovered Economics of Everyday Life. Tom York (Radiohead) : « Jeunes artistes, Ne signez surtout pas avec les majors » Radiohead Says: Pay What You Want. 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 online 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. For Radiohead Fans, Does “Free” + “Download” = “Freeload”? November 5, 2007 For Radiohead Fans, Does “Free” + “Download” = “Freeload”?
2 out of 5 Downloaders Willing to Pay an Average of $6 for “In Rainbows” Album U.S. Downloaders Willing to Pay More than International Counterparts RESTON, VA, November 5, 2007 – comScore, Inc. Approximately 2 out of 5 Downloaders Willing to Pay During the first 29 days of October, 1.2 million people worldwide visited the “In Rainbows” site, with a significant percentage of visitors ultimately downloading the album. “I am surprised by the number of freeloaders,” said Fred Wilson, managing partner of Union Square Ventures and well-known music aficionado. U.S. While freeloaders appear to be as prevalent in the U.S. as in the rest of the world, the U.S. paying customer is willing to pay far more ($8.05 per download) than his international counterpart ($4.64)
. * Dollar figures exclude credit card transaction fees Of those who were willing to pay, the largest percentage (17 percent) paid less than $4. Music 2.0 - Exploring Chaos in Digital Music » Radiohead new album In Rainbows goes direct to fans - the details. New Radiohead album announced and fans decide how much to pay for the digital album!
Finally, a big name band has made good on the premise of selling their music directly to fans. Out-of-label contract band Radiohead has put up their seventh and latest album “In Rainbows” for pre-order sales exclusively on their website with a release date of 10 October for the digital download and a 3 Dec shipping date for their Discbox. And what is most amazing about it is the fact that fans can name their own price for the digital album (plus 45 pence credit card handling charges) After their recent decision to unload their back catalogue digitally via 7Digital and Amazon instead of iTunes whetted appetites, and with the radioheadlp7.com hoax last week purportedly announcing the new Radiohead album release details drove expectations to a frenzy, Music2dot0 can verify that this new announcement is totally genuine having been announced by Jonny Greenwood on Radiohead’s own Dead Air Space website.
Pay what you want - PWYW. Pay What You Want (or PWYW) is a pricing strategy where buyers pay any desired amount for a given commodity, sometimes including zero.
In some cases, a minimum (floor) price may be set, and/or a suggested price may be indicated as guidance for the buyer. The buyer can also select an amount higher than the standard price for the commodity.[1][2] Motivation[edit] Giving buyers the freedom to pay what they want can be very successful in some situations, because it eliminates many disadvantages of conventional pricing. Buyers are attracted by permission to pay whatever they want, for reasons that include eliminating fear of whether a product is worth a given set price and the related risk of disappointment (“buyer's remorse”). Further reasons for sellers implementing PWYW pricing includes price discrimination and market penetration. History and commercial uses[edit] How to Maximize Pay-What-You-Wish Pricing. Pay What You Want - Payez ce que vous voulez ! Pay What You Want : le succès de BRANDALLEY. Qu’est ce que le Pay What You Want de Brandalley ?
En français, le « Payez ce que vous voulez » est une opération commerciale menée par le site Brandalley ( lien : Brandalley.Fr) dans laquelle sont proposés des milliers de vêtements, chaussures et accessoires à partir de 1 euros. Une émission a d’ailleurs consacré une reportage sur le sujet. Bands Take Pay What You Want To Merch... And It Works Great. One Working Musician Explains How Pay What You Want Works For Him. We're going to try something a bit new here at Techdirt.
Usually, we post stories based on some news event or stories elsewhere, but since we talk so often about various business models, and often try to highlight business model experiments that work, I wanted to start a regular series of "case studies," on content creators doing interesting things. Sometimes it will include success stories.
Sometimes, perhaps, failure stories. Sometimes we won't even know yet. But the goal is to call out examples of the interesting things that have been done, and to dig into them a bit, and hope that we can all learn from them and maybe see if others are inspired by them. Can You Make More Money By Having Customers Chose Their Price? Reznor adopts unusual Web campaign for new album. Trent Reznor: CD Outdated... But If We Have To Sell It, Why Not Make It Cool? RIAA Tries To Stop Trent Reznor's Promotional Campaign For New Concept Album. Téléchargement de musique libre et gratuite. Artistes. Sortie de The King of Limbs : Radiohead fait ses manchettes. On rapporte qu'à Londres, Thom Yorke lui-même a distribué des exemplaires du journal en matinée sur Brick Lane, devant le célèbre disquaire indépendant Rough Trade.
Chez nous, dès 11h hier, le camelot de circonstance, un membre de l'équipe de marketing de rue de Universal, distributeur canadien de l'album, avait deux grosses caisses de ces journaux à offrir. La plupart des exemplaires étaient donnés à des passants, mais plusieurs se sont déplacés pour mettre la main sur le document et prendre des photos de ladite cueillette.
Les fans pouvaient envoyer leurs photos sur le site du «journal d'un jour», TheUniversalSigh.com, et les voir affichées en première page (web). Bien entendu, ces mêmes fans et passants n'avaient qu'à entrer au HMV juste devant pour mettre la main sur une copie de l'album. Radiohead sells 3 million copies of In Rainbows, but how much is that in American? Warner Chappell, Radiohead’s distributor, is announcing that the band “sold” 3 million copies of In Rainbows, the album that they essentially gave away online in a pay-what-you-want scheme.
The reports are that they made more on the album than they did on their previous dumpling, Hail to the Thief. Previous sales numbers were in the high hundred thousands, which makes this move particularly interesting. The official stats show that Radiohead sold 1.75 million CDs – about $17.5 worth, given the vagaries of CD pricing – and about $499,500 worth of iTunes albums (30,000 sold in the first week plus 20K for good measure). They also sold 100,000 box sets. Clearly, they cleaned up but there are still about a million “sales” left over, not to mention countless pirated tracks floating about.
Obviously 3 million purchases, in this case, doesn’t directly translate into a multiple of 3 million dollars. Radiohead, 'The King of Limbs' and Music Business Acumen in 2011. Serious Fans First -- The new music business model axiom says access over ownership...except in this case.
If you want Radiohead's "The King of Limbs" you'll have to legally or illegally download it. None of the subscription services, from Spotify to MOG, will have the album until its commercial release on March 29. This is a hint of things to come. Over time more artists will decide to self-release music in this fashion, thus creating long, staggered release windows that place serious fans first and more casual fans further back in line.
Traditional retail must wait in line, too. Beating The Pirates -- Did you notice that "The King of Limbs" -- as well as its predecessor "In Rainbows" -- did not suffer from pre-release leaks? The State of Internet Music on YouTube, Pandora, iTunes, and Facebook. "More people are engaged with music than ever before," said Tom Silverman, founder of Tommy Boy Records and the New Music Seminar. "It's a hockey stick going up; it's an incredible opportunity that so far has eluded us. " Silverman was speaking this morning at the New Music Seminar in New York City, where he and Eric Garland, CEO of Big Champagne (who also unveiled the Ultimate Chart today), gave a State of the Music Industry address. Even if you aren't a player in the industry and only an avid music listener, the figures that Silverman and Garland culled will surely surprise you.
Here are a few of their key findings. Piracy: Look for the silver lining.