Just got an email that In Rainbows (the new Radiohead album) download info will be sent to me tomorrow. Here are some questions on my mind (kinda rhetorical, but please answer in the comments if you feel motivated):
- If you bought In Rainbows too, how much did you pay for it?
- How much would you have paid if you had the same opportunity to name you price, but you knew that a label was taking a piece of the revenue?
- How much would you have paid if your name and the amount you paid was published on the In Rainbows site (in other words, your payment was not anonymous)?
- How much would you have paid if this was the 80th album you had bought in the “Name Your Price” model?
As for me, I paid 2 Pounds ($4) excluding that transaction fee. I thought 4 bucks was a good price because it was significantly more than an artist sees on the average record sale. It’s not particularly generous of me, but I want to see this model perpetuated by other bands, and so I want to be realistic in my payment to see if its sustainable (and not just a novelty). So, based on that thought process, I’m pretty sure I would pay the same 2 Pounds ($4) in answer to all of the questions above.
I wonder what an economist’s answers to those questions would be?
Update: Changed all mention of “Euros” to “Pounds” in this post. Thanks to Ken for the correction.
I paid $6 total for it, but, would have paid more……..probably up to $10 ish
I paid 2 euro for it, excluding transaction fee, but might go back and pay more if it’s good
(you meant 2 *pounds*, right?)
We’re talking about my fav still-existing band here, I bought the box. But would have paid double if they had the options for that too.
Radiohead actually introduced me to Bittorrent. When Hail to the Thief was waiting to be released, there were copies of that album available months in advance. Fantastic for fans who couldnt wait for the album while the record co decided when it thought was most strategic to do their release or whatever their excuse. When the album finally released, I still went and bought the CD to have in my collection.
The Times Online has an interesting article that you might enjoy reading.
After I put 0 in the shopping basket for a joke and was able to have the easiest and best checkout experience of my life, i just went with it** — I then went home and asked my girlfriend if she would get me the boxxed product for my birthday. To give $62 Canadian to a band like Radiohead at this point in my life would be a glee full moment. *The reality of whatever marketing programs the data I entered into Radiohead’s website is tied-into, the more artists can be certain they can afford to make more great music. I hope the cash flow Radiohead created for themselves will be used to spawn a new waste full industry movement. Radiohead’s bank account, the new cog in the music industries revival. Knowing I was coming into work today with a download key waiting for me to give my speakers a workout excited me more then I know how to explain. Thank you Radiohead–today is a good day. Now back to work…
1. $10
2. $10
3. $10
4. Probably about $5, but depends on the artist.
Andrew
check out these stats over at RRW
http://www.readwriteweb.com/archives/poll_what_is_radioheads_album_worth.php
My economics prof mentioned about how the price one ’should’ be paying as a logical consumer is $0. Asking to pay any more than that goes against every law of supply and demand ever conceived by any economic libertarian.
I haven’t paid anything, as I haven’t listened to radiohead enough to know whether I like them or not. If my tastes do swing their way, I’d probably shell over a good $10