The pot of gold at the end of In Rainbows

Radiohead released its much-anticipated new album In Rainbows this week, and the question everyone's asking isn't "How is it?" (Short answer: It's good.) but rather "How much did you pay for it?" After fulfilling its contractual obligations to longtime label EMI, the band is now a free agent, and chose to issue In Rainbows exclusively via its official website, for the time being eschewing vinyl and CDs in favor of digital downloads. Even more intriguing, the band is allowing listeners to determine their own price, meaning the download is available for as little as 90 cents in credit card fees. Radiohead is not the first recording artist to ankle conventional retail distribution, but it is certainly the most successful and most respected, so In Rainbows looms as a major turning point in pop music history--a litmus test to determine whether a band can truly depend on its fanbase to financially support its creative endeavors.

In Rainbows does not merely pose a threat to conventional record sales and traditional music biz models--it also questions the viability of premium digital music services like iTunes and Rhapsody America, and casts doubt on the relevance of any and all retail middlemen by establishing a direct sales channel between an artist and its listeners. There are presently two ways to obtain the album: On Radiohead's website, or on torrent sites. It's an all or nothing proposition--Radiohead may not make a dime off In Rainbows, but any revenue the album does generate goes solely to the band. Sales totals won't be known for a while, if at all (Radiohead is no longer beholden to SoundScan numbers, either), but the buzz on fan sites and other music forums suggests most of the audience is forking over cash for the album, a promising sign that listeners do understand their largesse is essential to extending the group's longevity.  

Not all artists wield Radiohead's influence, of course--the sheer novelty of the In Rainbows initiative was sufficient to generate headlines across the world, boosting anticipation for the music's release without benefit of traditional marketing efforts. Future download-only releases won't enjoy the same media attention. Moreover, few contemporary acts are in position to make such a radical move, although industry buzz suggests that Oasis, the Charlatans and Jamiroquai are already mulling digital exclusives for their next releases. But taken solely on its own terms In Rainbows proves that distribution platforms like iTunes aren't essential to digital success--whatever the reasons keeping crown jewels like the Beatles and Led Zeppelin back catalogs off of premium download sites, the decision to sit back and wait now appears more justified than ever. D2C: It's not a chord change--it's the future of music. - Jason