As I’m sure everybody knows, Radiohead is no longer signed to a record label. They have chose, instead, to release their latest album, title ‘In Rainbows’ exclusively through their website, and allowing the listener to name their own price… even if it means paying nothing at all.
I only found out about this endeavor last week and I already know three people who purchased the album (yes, paid with cash-money) within two days of it’s availability. That kind of astonishes me. There are only two other occasions where I can recall several of my friends purchasing the same record at it’s time of release; 1) Feb. 2000, Bloodflowers - The Cure 2) July 2001, Amnesiac -Radiohead. It seems that this day and age it’s quite the rarity for an album to see such high demand immediately.
Granted, the novelty of this situation, coupled with Radiohead’s stature as the underdog superstars allows for the risk to pay off. I figure, without having to worry about paying back an advance to a record company, etc. if 50,000 people paid what averaged to be $3 for the record (I paid 5pounds/ roughly $10) the gross would be $150,000 minus the cost of the recording, paying management, artwork printing (you can get it mailed to you), website development and the accountant, I’d think the record may have paid for itself. That’s assuming that many people paid that much money in these last couple of days.
But think about it… no more absurd “breakages” clauses in contracts, no advance/video production cost/marketing/A&R expenses etc. to pay back to a record company that is adamant that you constantly remake that one platinum record you had between 1994 and 1997.
(I’m listening to In Rainbows for the first time as I write this… and it fucking kicks ass. So far, I think Radioheads best since OK Computer… no, seriously.)
But this revolution doesn’t stop with Radiohead.
On October 8th, 2007 this message appeared on www.nin.com:
Big News..
the following announcement: as of right now Nine Inch Nails is a totally
free agent, free of any recording contract with any label. I have
been under recording contracts for 18 years and have watched the
business radically mutate from one thing to something inherently very
different and it gives me great pleasure to be able to finally have a
direct relationship with the audience as I see fit and appropriate.
Look for some announcements in the near future regarding 2008.
Exciting times, indeed.
posted by Trent Reznor at 10:45 AM
Nine Inch Nails will now be able to autonomously release albums! No more interference from interscope bullshit records.
Futhermore, Madonna has left Warner Brothers Records to sign a deal with Live Nation, who is basically a concert promoter. What does this mean? While still technically a contract obligating Madonna to release three albums, it recognizes that in an era of failing physical record sales, the live entertainment experience is a crucial element in the financial survival of music as an industry.
Ironically, in April of this year, EMI, Radiohead’s former record label, announced that it would release high quality DRM free versions of it’s catalog. Meaning the draconian restrictions on file sharing are no longer attached to the downloads.
All of this is quite a gamble. If people want to steal music, they will. What artists and labels have to realize is that viewing a project as more than a disc, 12 tracks and some artwork, is the only way to succeed. Music has to be interactive (Beck & NIN’s fan remix efforts for instance), and most of all, worth buying. People will PAY for something they want, even if they don’t have to. (Otherwise PBS wouldn’t exist)
I applaud Radiohead’s effort and I wish them all of the success they deserve. Buy this album, even if it’s for $1, it’s very worth it.
J.
