Bob Lefsetz has a great piece on this and what it means to the record industry. Read the whole thing, but here are some highlights...
Lefsetz Letter » Blog Archive » Radiohead
This is big news. This says the major labels are fucked. Untrustworthy with a worthless business model. Radiohead doesn’t seem to care if the music is free. Not that they believe it will be. Because believers will give you ALL THEIR MONEY!
This is the industry’s worst nightmare. Superstar band, THE superstar band, forging ahead by its own wits. Proving that others can too. And they will.
This is what happens when you sell twenty dollar CDs with one good track and sue your customers for trading P2P. This is what happens when you believe you’re ENTITLED to your business. This is what happens when music is a second-class citizen only interested in the bottom line.