In spite of Radiohead letting fans pay whatever they like for a CD download of their latest release 'In Rainbows', the Oxford-based band has made quite a mint off the album. While fans only paid about half of what new CDs cost in stores, Radiohead has made nearly $10 million dollars (about £4.8 million) in less than a week.
If what is happening is for real, a revolution in the way audiences receive their music may change the music industry forever. A poll made my Gigwise.com had a total of 3,000 participants saying on average they paid £4 for the album. Multiply that by the 1.2 million copies of the album now on fans' computers, and you get £4.8 million pounds!
Because Radiohead is no longer affiliated with a record label, the vast majority of the 'In Rainbows' profit will go to them, with minimal overheads. Compare this to selling it through an online store (iTunes, Snocap, etc), and they could only see as little as 25% of that profit.
Leído en ultimateguitar.com.
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