Tuesday, June 03, 2008
Music to my ears
Some 6 months ago, Radiohead offered its new album on the internet at a 'free' price, from nothing till whatever fans were willing to pay for it. Did this strategy pay off?
It seems so. According to a source in Advertising Age, 1.2 million people downloaded the album and 32% paid for it, good for 6 to 10 million dollars in their pockets. Afterwards, 122 000 examples of the physical album were sold, good for another 25 million dollars. Not bad for an experiment.
It shows that marketers sometimes have to give before they can take. And it also illustrates that distribution models ask for an innovative and inventive approach.
Read all about it in this week's column.