The Added Value of Free
October 4, 2007
This week has been all about Radiohead, and I doubt there are many music blogs that have not commented on their bold move of distributing their new album exclusively through the band’s website and essentially giving it away for free. They have created an enormous buzz around this new concept causing some people to comment on what a brilliant promotional campaign Radiohead has orchestrated by basically turning the bloggers and e-news sources into free press.
And even though you can choose to pay as little as you want to for the album, I think we would all be surprised at how many people are actually paying something for the album. According to Murray Chalmers, a Radiohead spokesman, “Most people are deciding on a normal retail price with very few trying to buy it for a penny.” Surprised? I’m not, and here’s why.
Instead of looking at this move by Radiohead in terms of what it means for the well-being or detriment of the “music industry,” I am looking at what this means to Radiohead’s fans. If it is true that Radiohead fans are deciding to pay a reasonable retail price for what they could legitimately receive for next to nothing, I can really only think of one explanation. People value Radiohead, and are willing to support their favorite band if they (the fans) feel valued at the same time. By allowing fans to choose their price, there is no way anybody could possibly feel ripped-off after listening to the album, whether they like the album or not.
I know if I were a Radiohead fan right now that I would feel a deeper respect for the band and be willing to pay for the new album simply because I feel they respect me as a fan, and that they didn’t try to charge me for an $18.00 album that I might not even like. The added value here might stem from the fact that people have more freedom to choose what they want to pay. Again, I’d be willing to bet that the more each fan feels valued by the band, the more that fan will value the music, and will be willing to actually pay for the music.
Radiohead is not the only artist that has clued into this somewhat abstract idea that FREE can actually add value to a band. This past weekend I saw a great FREE show by a band based out of the Nashville, TN area called Glossary. Not only was their set great, but in the middle of it, they announced that they were giving away their new album for FREE on their website. After seeing what a great live show they put on, I downloaded the new album and fell in love with it. I’ve told everyone I know about how great they are, I’m going to BUY their previous records, and can’t wait to see them again live. I’m only one person, but I bet I’m not the only one who feels valued by Glossary. This is a win win situation for both the band and the fans. The fan comes away happy, and the band has gained the respect of a fan who is willing to pay for their music, merch, tickets etc.
When music consumers no longer feel that they are being squeezed for every last dollar, ($18.00 CDs with one or two decent songs, outrageous concert ticket prices with absurd “convenience charges”) and fans actually feel respected and valued by the music industry, people will be willing, not hesitant to fork over the cash for new music.