If one band has a shot at changing the way music is bought and sold, Radiohead may be it.
I say this not as an admiring fan, but rather in reaction to the band's announcement on its blog Sunday night that its new album In Rainbows will be released October 10 and only available at first via digital download from the band's Web site. 
That's right; don't bother looking for In Rainbows in your local record shop or on iTunes on October 10. Radiohead will sell tracks directly from its site and ask fans to pay what they think the album is worth instead of charging a set price.
For a band as big as Radiohead, this is unprecedented in the music industry. No record label or online distribution service like iTunes will be able to dictate the price or get a piece of the profits.
The direct-to-fan approach presents the band with possible risks and rewards. For one, what if nobody wants to pay over a dime for the album? But anything that fans do pay the band for In Rainbows won't have to be split with a record label or a download site like iTunes.
How will the fans feel and will they pay real money for the album?
A New York Times blog has pulled in an assortment of overwhelming positive fan reactions on the topic, with more than a few users call it "a brilliant move by a brilliant band."
"While I don't think this approach would work with all, or most bands, Radiohead has a reputation for musical and social integrity," notes poster David H. "Combine this with the strong connection many feel for the music, and I think they'll find that many will gladly give for a product honestly made and humbly offered."
In light of the band's decision to allow fans to pay as little or as much as they'd like for the 10-song In Rainbows album, many seem more than willing to shell out a generous amount to support the cause.
Poster Ira Lippke beams, "I'm going to pay $15 - happily." Another fan named Andrew noted a love for Radiohead and a loathing for the record industry adding, "I will gladly pay $20 for the album, knowing the artist will get the money.
But not all see the In Rainbows release--which is also being offered in an $82 disc box bundle and will ship to customers on or before December 3--as an entirely whole-hearted approach.
"While this 'gimmick' may or may not pay off, I commend their gesture as a nod toward the new model of business in the digital age," opines "Richard." Poster "Matt" sees it as novel as well, yet admits "it's a gimmick, but a good one."
Somehow, I don't think Radiohead gives a hoot about cheapskate fans or the music industry establishment. Seven years ago, their album Kid A was leaked onto the old free-music version of Napster three months before its official release. Didn't matter--the album still managed to hit #1 on the U.S. charts its first week out.
Retailers may be pretty steamed about missing out on the initial craze, but even so, Radiohead is planning a traditional CD release sometime in early 2008.
Record stores may be peeved by getting put second in the distribution pecking order. But for once, someone is putting the fans first.
