Radiohead to let music fans set price for its new album.
Economists call it "first degree price discrimination" but in the world of Radiohead, it's called, "variable pricing to the extreme." You're probably heard of it by now. Radiohead is letting music fans set their own price for its new album and the distribution will solely be online.
We've seen some interesting online distribution models from music stars who have taken steps to depart from the convention - and control - of dinosaur-like corporate industry giants like EMI. And it's ramifications on the music scene will be discussed by other, more qualified musics experts. So instead, let's explore it's implications for the world of online marketing because creativity like this impacts a few of its categories.
In particular, let's take a look at its effect in social media and search engines.
1. Social Media Marketing- news like Radiohead's, especially considering the target demographic and online behavior of its target audience, spread like wildfire online. Consider these results from BlogPulse under the search term "Radiohead":
2. Search Engine Optimization: Ah, universal search is a wonderful thing. Relevance and context, gotta love it! Two of the top ten search results for "radiohead" are related to the news of its variable pricing model.
This brings up a question consistently posited here at eBoost which is: Rockstars or online marketers? Chicken or egg? Which comes first?
It may never be known...