In six days, one of the most innovative and exciting bands in the business releases its potentially industry-changing album, In Rainbows.

For their seventh album, Oxfordshire-bred quintet, Radiohead, has opted to venture off-label and make In Rainbows available via their website – for a voluntary donation. Or, at least, that is the claim. Word on the ‘net has it that there will be a 45p transaction charge to purchase the album and, if you are one of the old-fashioned sort who fancies something tangible to put with your collection, you will have to shell out a whopping forty big ones for the double-vinyl, double-CD special boxed-set that comes out in December.

Of course, ArtsWom aren’t complaining about a 45p album and (us being honest sorts) we would probably donate a reasonable sum - mainly as an act of support for the bold enterprise. Unsurprisingly, some major record label executives are growing concerned, with one stating that this symbolises the final ‘death knell’ for the big players in the industry. After all, who would continue paying faceless corporations for music when the bands themselves are giving it away?

Despite the inevitable success that this album will be, the executives may be over-reacting. Radiohead are sure to more than cover expenses (we wonder how many “I bought it once for £5, but it was so good I bought it again for £20!” style posts will crop up over the coming weeks) and the number of downloads will be huge, but is this a sustainable model that can be replicated once the novelty factor has worn off?

ArtsWom don’t think so. As we said earlier, we would probably donate a reasonable sum for In Rainbows, but if pay-what-you-like music becomes more commonplace it may seem easier and easier to forgo the irritation of bothering to pay. Besides, few bands could attract this amount of free publicity, so the labels will continue to have a role. Interestingly, Courtyard Management who represents the band, are looking to reach an agreement with record labels to make a conventional release next year. This may be a tough pill for the major players to swallow, but it might give them hope. Now all we need is for them to take the hint and invest more in their consumers than their Cristal champagne.

See further conversation about Radiohead’s latest release by following these links:

The fate of the music industry…
Radiohead’s Rainbow Daze
How to get your music noticed on the Internet…
Radiohead negotiate In Rainbow’s label release