Last week the British rock band, Radiohead announced that they would let fans determine the price of their seventh studio album, “In Rainbows,” which was released yesterday. What’s even more interesting is that the band went completely against the grain and chose not to sell the album to iTunes, in order to sell the album in its entirety rather than song by song.
This unusual yet bold move seems to challenge the typical music industry business model and it’s already catching on. Oasis and Jamiraquai are said to be considering whether to offer their music online for free, according to The Telegraph. Monday, Trent Reznor front man for Nine Inch Nails announced the band’s emancipation from Interscope Records – this after last month’s Sydney concert where Reznor advised fans on how to “steal” music to protest the high CD prices.
So what does this mean for the music industry? It has yet to be seen, however, this trend is not going away any time soon. Some say that the days of big record labels are numbered, others say that without big label’s help musicians will go back to singing for their supper. We’ll see.
Is this a music revolution? “It’s up to you.
Entry filed under: Entertainment Technology.