In October 2007, Radiohead released their new album, "In Rainbows," online available for free download. Frustrated by the fact that their previous four albums had been leaked prior to their release date, they decided to leak it themselves, giving fans the option of paying however much they liked, which included paying nothing at all. Initially, the move was motivated by the idea that the album would sell better once it went into stores (and it was eventually number 1 on the Billboard charts upon its store debut in January). However, the financial success obtained through the online release was uncanny, as 1.2 million downloads were made during the first day and people paid an average 8 dollars for the record, as opposed to the meager one dollar bands can get on average for royalties. Thom Yorke of Radiohead admits that this was not what the band anticipated, although it seems they have started somewhat of a revolution. Trent Reznor of Nine Inch Nails chose to release his new album "The Slip" for free download in May as well, having just been freed from his problematic contract with Interscope Records the year before. In fact, upon the release of his final album with the label, he became exceedingly frustrated with the process, telling liveDaily, "Artists these days are not encouraged to experiment or take risks, and my punishment is on its way [for being creative.]" Reznor has even released tracks in formats that can be remixed and posted on the web. All of this seems to point to the Internet as being a place where artists can be in closer connection with their fans, without the unpleasant buffer of a label. However, these bands are each very well known with significant followings, so the label free approach is not as applicable for new bands that need the help, but the business for the big bands of the industry could be changing.
Trent Reznor, from blog.news-record.com
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