Repackaging the Music Industry

Posted on | February 1, 2008 |

This year we’ve seen some bold attempts at innovation in the world of music. Matchbox Twenty and JLo released albums on overpriced USB drives. Cartel recorded an album in a plastic bubble for no reason except to promote the bubble’s sponsors. Britney Spears tried to stage a comeback. Though these strategies get an A for effort, there’s a good chance we’ll never see them again—at least we hope not.

Then there was Radiohead. From October 10th through December 10th, Radiohead fans were given the opportunity to choose their own price for a downloadable version of the band’s new album, In Rainbows. With no label to answer to, Radiohead set the startingprice at $0 and sat back to see what would happen. The move was simultaneously why-didn’t-I-think-of-that genius in terms of publicity and what-are-they-thinking crazy in terms of revenue. However, when you’re already a multi-million-dollar band, the potential gains outweigh the losses.