p2pnet news view | Music:- Radiohead’s In Rainbows was “stunt marketing at its best,” says Will Page, MCPS-PRS chief economist and co-author of a report which says it’s gone time for the Big 4 record labels to realise which way is up.
The album was launched on a kind of pay-what-you-want honour basis. And it generated all kinds of traffic to the band’s site.
“Legal” downloads far exceeded “illegal” torrent downloads of the album, says a by the MCPS-PRS Alliance, which represents music rights holders, and BigChampagne, the online media measurement company, says the Financial Times.
“Rights-holders should be aware that these non-traditional venues are stubbornly entrenched, incredibly popular and will never go away,” the story has BigChampagne’s Eric Garland (right), co-author of the study, saying.
And there’s “strong brand loyalty” to .torrents and the P2P networks.
It’s time for Vivendi Universal, EMI, Warner Music and Sony BMG to, “stop swimming against the tide of what people want,” he said.Almost 400,000 illegal torrent downloads were made on the first day and 2.3m in the 25 days following the album`s release, “compared with a full-week`s peak of just 158,000 for the next most popular album of the period,” says the FT.
“The expectation among rights-holders is that, in order to create a success story, you must reduce the rate of piracy,” but, “we`ve found that is not the case, says Garland in the story.
Record companies should ask themselves: What are the costs and benefits of control versus the costs and benefits of scale? asks Page, who, also, “challenged the assumption that no other band could achieve the same benefits, saying Radiohead`s experiment had reduced the marginal cost and risk for those following their lead.”
. .Stumble It!
Financial Times -Music industry ‘should embrace illegal websites’, August 3, 2008
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