Radiohead announced last night on their blog that the new album is finished and will be release in just 10 days. Of course, I went and pre-ordered the ultimate disc box set right away, but news reports today indicate they are trying a new and different approach with the download version of the album. Unencumbered by a traditional record contract, they’ve decided to make the disc box available at a high price with extra goodies for their fans who will have no problem paying for it, then make the downloads available at little to no cost. It looks like the downloads will require users to register with personal details which can then be used for future marketing.
Earlier, they had announced that the album would not be made available on iTunes, so it looks now like this decision was related to giving them maximum control over the downloads and not having to split (or ensure) any profits.
Not having to share profits with a record company, having very low distribution costs, and having an established brand and fans who will support value-added products and tours all add up and give them the luxury to try a different approach. It strikes me that this is very similar to an open source software model: use low distribution costs to get a software tool in front of as many people as possible, then sell value-adds such as support, maintenance, enhancements, and indemnification, then use the established brand to come up with other products and services to sell the user base.
Is the new Radiohead album the first “open source” album? Or is it just a big train wreck waiting to happen?
