Monday, October 15

Radiohead Be Filthy Rich

No one was really sure how it would work when Radiohead decided to release their new album In Rainbows via the Internet with a "pay what you want" approach.

Well, the method proved to be very lucrative for the band, who have pulled in around $9.6 million in sales, despite the people who refuse to pay anything.
The British music newsletter Record of the Day conducted a poll of 3,000 purchasers of the album. People paid an average price of £4, about $8, the newsletter found.

Because the band isn't working with a record label, it gets to keep all that money. If it had sold its songs instead on iTunes, it would likely have seen less than $1.50 per album.

Which means that if all these numbers are right -- 1.2 million units at $8 each -- Thom Yorke and his pals are seeing a lot of green right now.

-via Machinist