In a fascinating interview for the latest issue of Wired Magazine, Thom York of Radiohead has spoken at length with the great David Byrne about the risky decision to release their new album, In Rainbows, as a pay-what-you-will digital download.
Radiohead, forever darlings of music critics and fans alike, could not have doubted that there would be a huge demand for any new Radiohead material from the general buying public. However their plan was radical and generally considered somewhat of a gamble.
“[The optional pricing idea] was [manager Chris Hufford's] idea. We all thought he was barmy. As we were putting up the site, we were still saying, ‘Are you sure about this?’ But it was really good. It released us from something. It wasn’t nihilistic, implying that the music’s not worth anything at all. It was the total opposite”
The venture paid off. It is reported that in the first month, approximately one million fans downloaded In Rainbows and despite the fact that only 40 percent of the downloaders paid (on average $6 each) the band still netted almost $3 million. York has stated that the group has made more digital income from the release than from the rest of their back catalogue put together.
And in addition, for the very first time, the band own the master recording of the album allowing them to license the album to TBD Records/ATO Records Group, for general release in the old fashioned way. In Rainbow is due to go on sale in the US on Jan 1st 2008.
In the interview, York explains to Byrne, legendary songwriter and founding member of Talking Heads, that the idea came about purely as a result of circumstance.
“It was simply a response to a situation. We’re out of contract. We have our own studio. We have this new server. What the hell else would we do?
The experiment simply proves there is plenty of room for innovation in the music business. Byrne has investigated this premise and how artists can survive within the music industry today in an article entitled: David Byrne’s Survival Strategies for Emerging Artists — and Megastars, which is also featured in Wired.
For the complete interview and related articles visit: www.wired.com