On The Media is produced by:
When Radiohead releases its new album on October 10th, it’ll likely feature the dyspeptic lyrics, man vs. machine music and alien encounters for which the band is beloved. It’ll also cost whatever you want it to. Economist Tyler Cowen uses the dismal science to gauge the impact of Radiohead’s new model.
I have to completely disagree with the guest on this segment. Radiohead is using a model that a number of smaller artists have been using for quite some time, with reasonable success. The distribution costs are low, and there is no middleman taking the lions share of a given sale. The RIAA et all are no doubt dreading the inevitable success of this venture. A legal alternative that is either free or very close to free, and instead of suing their fans, they are respecting them by giving them the freedom to choose the value of the music.
Models like this will allow small artists who have been stifled by the major record labels to finally break free and actually produce music with a chance of it being heard by people.
I have spent my last penny on music produced by the major labels. The artists I do enjoy will be receiving letters from me explaining why I won't be buying or listening to their music, and how that can change.
- me -
Pay the amount you're comfortable with, even when it's available to you for free? That does sound like a radical new idea in media.
On a completely unrelated note, my public radio station's pledge drive is coming up soon...
Tyler's analysis of how the fan's would react to Radiohead's busking was fascinating. Previous commenter, Nick, snarkily reminds us that public radio pledge drives are much the same. The decreasing marginal utility of indicating that I am a public radio listener is probably most clearly indicated by the marginal decrease of my pledges over time. The good news is that WNYC's original programs regularly delight my brain and cause me to want to be supportive all over again. Thanks again for injecting substantive analysis into the blogosphere's frequently vacuous echo chamber. -PY
i can definitely understand how someone with mr. cowen's background would assume radiohead’s purpose. if they receive $2 from a record sale with a label, then a direct fan paying $4 is double that. granted. further, he stated that radiohead are trying to gain popularity - a wee bit far fetched.
i wouldn't be cynical about their intentions at all. i appreciate the fact that radiohead are asking the buyer to pay what they believe the music is worth. it ultimately gives me a sense of recognition. i'm sure true fans are paying anywhere between mr. cowen's guess at around $5 - $10. i, myself, purchased the £40 discbox because of the extra goodies (and, i do admit, because subconsciously i do identify as a hardcore radiohead fan. not to mention the fact that it is a record label-less release direct from the band and might not always be available). also, to insinuate that radiohead did it for popularity is unfounded. they've sold-out the hollywood bowl (18,000 capacity) on two consecutive nights. they headlined the coachella valley music and arts festival in 2004 and it was the first to sell-out (60,000 people) in the festival's then five year run.
i humbly have to disagree with mr. cowen from a fan-based point-of-view. but with regard to economics, i suppose he has a point.
I'm a little late but I wanted to comment anyway. Nice model. This way I am not considered a criminal by sampling first the album. Unfortunately if the group is serious and the music of great quality I buy the original album on vinyl (digital formats are still not acceptable for serious listening), if not available then CD. My two pence,M
Please keep your comments relevant to this entry. Email addresses are never displayed, but they are required to confirm your comments. All comments on On the Media are moderated. On the Media reserves the right to edit any comments posted on this site. Please read the onthemedia.org Comment Guidelines before posting.
Back to Episode