Tuesday, October 30, 2007

The New Game: "Name Your Price"

You'd think the breakthrough decision Radiohead recently made around the purchasing options for their new album, In Rainbows, that the idea might be adopted mostly by other artists, like Saul Williams, releasing their new albums in a similar manner and embracing this new experimental format for a digital economy. It might seem unlikely that everyone is just going to jump at this idea and sacrifice their steady revenue streams for a variable one. But from the looks of it, it's going to leave a much broader impact.

Recently Paste magazine also fallowed this model providing a "Name Your Price" for their magazine subscription, with a $1.00 floor. According to their press release, the offer only stands for two weeks, and "[a]nyone paying more than the $19.95 Paste typically offers for a one-year (11-issue) subscription will be thanked in print in a future issue of the magazine."

I find this trend extremely interesting and I think it will be a trip to watch where this roller coaster lands, in a pot of gold at the end of the rainbow, or on your knees in front of the bank begging for forgiveness. I doubt this could work for everyone.


  1. Anonymous7:10 AM

    I think Paste is well worth the $20 I pay for it every year...except maybe the Kanye West issue :) I hope they don't price themselves out of business.

    I would also gladly pay $5 for albums from my favorite artists, especially if all that money is going to them instead of a record company.

  2. Neils, you're totally right!
    Paste is well worth it. Worth more actually when you get 11 issues AND 11 CDs. I bet Paste was hoping to see some subscribers pay more, and they probably did.

    I'd pay a lot more than $5 for some favorite artists albums, especially if that redirects cash into their pockets.