Sort of sad – only 38% of people paid for the new Radiohead album
When I heard that Radiohead was selling their album online in a bid-type of environment rather than through traditional channels like CDs and online pay-for-download, I was very interested to see how consumers respond.
Radiohead fans are passionate about the music and very different (in my opinion) than the people who like music from Brittany Spears, etc… (not that there is anything wrong with that mind you). But still, my general belief about any product is that when something has the potential to be free, consumers won’t pay for it.
Well, it looks like my concerns were justified. As a quote from the Cnet article said:
Of those who downloaded Radiohead’s digital album, In Rainbows last month, about 38 percent worldwide paid, reported ComScore, an Internet research company.
About 17 percent plunked down between a penny and $4, far below the $12 and $15 retail price of a CD. The next largest group was 12 percent, which was willing to pay between $8 and $12–the cost of most albums at Apple’s iTunes is $9.99. They were followed by the 6 percent who paid between $4.01 and $8 and the 4 percent who coughed up between $12 and $20.
Bummer for both Radiohead and what might have been an interesting music industry trend as a whole. Hopefully Radiohead doesn’t get jaded as a result and feel like their fans took advantage of them….
You can read the full article here on News.com
I think this was a great experiment. As is the one Madonna is considering (10 year contract, $120M, Live Nation gets concert rights): http://dmehta78.spaces.live.com/blog/cns!6DD74C27BDE44A01!185.entry
I agree it\’s shitty that so few paid … but I guess you have to consider it in light of how many people normally steal a song and whether they got more adoption just because of all this buzz. I doubt there\’s great data on this … but I would guess that Radiohead did just fine. Which is apropos for such an awesome band. Unfortunately, if this was some random group, I doubt they\’d have dont nearly as well (i.e. making this work for the tail is probably still somewhat away)
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katie
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