Thursday, October 25, 2007
Radiohead’s Online Marketing is Music to Fans’ Ears
byIf you’re a fan of the British music group Radiohead, you probably know they recently released their 7th CD In Rainbows earlier this month. What you might not know is that the CD isn’t available in stores or on iTunes, but can be purchased exclusively on the band’s website. What’s the going rate for the new disc? Whatever you want it to be.
In what many believe is a trend-setting move by Radiohead, the band released In Rainbows online in an effort to eliminate the role of money-zapping record companies and retailers. Fans interested in downloading the album simply head to the site, add the CD to their cart, type in their desired price, and enter their billing and shipping information. There’s no catch—you really get to pay as much as you want, and yes, you can download the disc for free if you want. There’s even a handy currency converter for fans ordering from other countries.
So is this a good idea? According to a recent article from the Washington Post, absolutely. While plenty of people will take advantage of the free download, there will of course be those devoted listeners willing to pay regular price. The band is also releasing an $80 box edition including lyric booklets and bonus tracks early next year to cater to their fans.
While the disc has only been promoted on the group’s blog and through a few news stories, it’s certainly set the music industry abuzz. The Washington Post calls the endeavor “a legacy,” and claims it could actually be a huge money maker for Radiohead. Not to be outdone, industrial rock band Nine Inch Nails has already announced plans for a similar release, and there’s no doubt other groups will follow suit.
Not since the iPhone release have we seen such marketing buzz. In some marketing circles, such tactics as naming your price for music could be termed “disruptive,” in that it totally redefines how items are priced, sold and promoted. Radiohead’s online play certainly fits that description. For many, it’s not disruptive, but music to their ears.
