Since Radiohead's online release of In Rainbows, with its pay-what-you-will business model, there's really been no word about how well that worked out for the band. Now research is showing that 62% of the fans who downloaded the album from the site from October 1 to 29 paid absolutely nothing for it. The remaining 38% paid an average of $6.
comScore Inc., a consumer research firm that monitors computer users' online behavior, put together the figures from several hundred people who are part of comScore's database of two million computer users worldwide.
1.2 million people visited the site designed to handle orders for the digital download of the album, the 7th release of Radiohead's 11-year career. comScore couldn't confirm how many of those fans actually purchased the album, but American fans seem to be lovin' Radiohead a bit more than people outside the US. 40% of US residents paid an average of about eight dollars for the album, while outside the US, 36% dished out an average of $4.64 for it.
Radiohead are still fielding offers for US distribution of the album, but have already signed a deal for European distribution under XL.
Most Fans Paid NOTHING for Radiohead Album (UPDATE)
Most Fans Paid NOTHING For Radiohead Album (UPDATE)
Trend Themes
1. Pay-what-you-will - Opportunity for businesses to explore alternative pricing models that allow customers to choose the price they want to pay for products or services.
2. Consumer Behavior Monitoring - Potential for consumer research firms to provide valuable insights by monitoring online behavior and analyzing data from large user databases.
3. Global Distribution Deals - Chance for businesses to secure distribution deals in different regions, enabling wider reach and market penetration.
Industry Implications
1. Music - Innovative pricing models can be applied to music distribution, allowing artists and labels to explore new revenue streams and connect with fans.
2. Market Research - Consumer behavior monitoring presents opportunities for market research firms to offer valuable data insights and strategic recommendations to businesses.
3. Entertainment Distribution - Global distribution deals enable entertainment companies to expand their reach and bring their content to a wider audience in different regions.