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What's in a rainbow?

Last week, rock supergroup Radiohead released a downloadable version of their new album, In Rainbows. Though not the first web release of an album, they are certainly the most high-profile group to take the plunge.

They started by releasing cryptic statements announcing the new album in advance. Adding to the intrigue, Radiohead allowed fans to choose their own price for the downloaded album. Since the download contained no artwork for iTunes Coverflow, fans have been creating their own cover art – enriching the fan experience while blurring the lines between artist and viewer one step further.

As the record industry continues to claim piracy for the decline in sales, bigger artists are figuring out they can promote and market their product far better than the system they’ve felt dependent on for so long. Further proof that being in tune with your customers’ wants, needs, and yes, frustrations, can open the door to new possibilities and business models you may never consider otherwise.