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‘In Rainbows” honesty box wasn’t an off-the-shelf solution either. Show me 1,000 talented musicians, each with a unique style and personality, and I’ll show you 1,000 ways to make a career in music…there is no longer an off-the-shelf solution.” It was simply a response to a situation” – with this from Palmer in 2012 about her own strategy: In many ways, the equivalent of ‘In Rainbows’ was Amanda Palmer’s $1.2m Kickstarter crowdfunding campaign from 2012, which was hailed/criticised as a model for other artists in exactly the same way ‘In Rainbows’ was.Ĭompare this quote from Thom Yorke in that 2007 Wired interview – “It’s not supposed to be a model for anything else. The pay-what-you-want aspect isn’t something to be followed slavishly in 2016: it’s the willingness to try it and the connection with fans that made it successful that should be an inspiration. US journalist Mike Masnick gave a famous 15-minute presentation at music biz conference Midem in 2009 about why bands should connect with fans and give them a reason to buy – based on a case study of Trent Reznor rather than Radiohead, interestingly.īut it’s exactly what Radiohead did with ‘In Rainbows’. Downloads, Spotify streams, gig tickets, merchandise, CDs sold at gigs, YouTube ads, legal BitTorrent bundles, Kickstarter crowdfunding and many more. Making a career in music means hard work, forging a connection with fans (whether there are 50 of them or five million), trying new things, and making money in a bunch of different ways. What about ruining things for other bands? It’s tough to make money from music in 2017, for reasons – yes, piracy – that existed well before 2007. Letting people choose what they wanted to pay, right up to the £40 Discbox, paid off. It showed that a lot of fans really did value Radiohead’s music – it helped that the album was great – but also that they valued it at different levels.
In fact, it was worth a lot more to the band than their previous albums when they’d been signed to a record label. To put it another way: giving ‘In Rainbows’ away didn’t make it worthless. 1.75m of those sales were CDs, and 100,000 Discboxes (a cool £4m in gross revenues from the latter alone).
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The album had been bought 3m times, including downloads, CDs and the £40 ‘Discboxes’ that were pre-orderable when the original download went live.
In October 2008, Radiohead’s publisher Warner Chappell revealed more stats on ‘In Rainbows” performance at a music industry conference in Iceland. And that’s nuts,” said Thom Yorke in December 2007, when interviewed by David Byrne for Wired Magazine. “In terms of digital income, we’ve made more money out of this record than out of all the other Radiohead albums put together, forever - in terms of anything on the Net.
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Over its first 24 days, the album notched up 2.3m torrent downloads. Radiohead quickly slammed that research as “wholly inaccurate”, but some better stats came later from British collecting society MCPS-PRS and internet metrics firm BigChampagne, who estimated that 400,000 copies of ‘In Rainbows’ were downloaded on BitTorrent on its day of release alone.
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In November 2007, market research firm comScore claimed that only 38 per cent of ‘In Rainbows’ downloaders had paid, while 62 per cent chose to get it for free – meaning an average price paid overall of $2.26 per download. It’s true: a lot of people downloaded ‘In Rainbows’ for free, including on BitTorrent. (In fairness, his client Bono stuck up for the band in a letter to the NME, saying they’d been “courageous and imaginative in trying to figure out some new relationship with their audience… Such imagination and courage are in short supply right now”.)
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