So, I downloaded the album, which I paid $USD6. Frankly, for what is being reported as the death of the record label, it was a little anti-climatic. That is, I paid for a album over the internet that I could have gotten free. The album is good, sort of what we’ve come to expect from RH. Although, it usually takes me a few listening sessions for me to figure out what is going on in their albums. Now what?

For the second act, Trent Reznor announced that NIN has fulfilled their music label contractual obligations are now planning to go it alone, which isn’t all that surprising.

Starting your own record label or self-publishing is not a new thing, as seen with Ani DiFranco’s Righteous Babe started in the 1990, to cite one example. So, the real question still to be answered is, can this scale outside established musicians who admittedly benefited from aspects of the traditional music industry?

Will the home grown bands who grow a fan base through touring, myspace, pitchfork reivews and other grassroots efforts continue on a DIY career path or will they eventual jump to labels, as did Clap Your Hands Say Yeah?

Image source: In Rainbows

Way back in 1999, Public Enemy released “There’s a Poison Goin’ On” only on the internet, with indie label Atomic Pop. After sluggish sales, they eventually sold a CD version as well. I applauded PE for their efforts, although it wasn’t surprising with the outcome. Broadband penetration was much lower and PE has past it’s peak of popularity. Eight years later, the internet is buzzing with Radiohead’s announcement that they are releasing their latest record, In Rainbows, without a label. You can buy the disc set at a pricey £40.00 ($USD 80) or pay whatever you want for the download.

Of course, Radiohead is in a better position to do sometime like this kind of experiment, after having sold millions of records and toured extensively throughout the world. I’m sure the die- hard fans (of which there are many) will purchase the disc set. However, after Thom Yorke’s last album was circulating the internet months before its official release, Radiohead figures to try to recoup some of the lost revenue from p2p file sharing.

I paid £2.50. There is a £0.45 credit card process fee, which they only tell you about at the end of your purchase. I’ll give them a “free pass” on that one.

I got the download code, and will be able to get the album starting on October 10th. I’ll probably wait a few days, because I’m sure that their servers will be clogged at first. I’m not in a rush, as my Radiohead interest peaked a few years ago (I bought Amnesiac on the day it was released.)

I would love to see the numbers, and the distribution of what people’s willingness to pay for the album. It isn’t clear if this is sustainable for other bands, even famous ones. Radiohead is getting a lot of free press for being the first. The 10th band who tries this, won’t have the added benefit of extra publicity. I mean, I’m writing about buying an album on the internet.

I’m sure it will be available on the internet for free the day it is released. I could have gotten activation code for free as well, but I want to reward them for their efforts. I’m also buying the album for $USD5, which is actually how much it is actually worth to me. Although, it may be not be “rational” in the purely short term economic sense, I definitely wanted to reward Radiohead for working in this way.