I’ve been fascinated in recent years at the ongoing debate about whether or not musicians can still charge for their recordings. There is a lot of data on both sides of the fence and many artists from the bedroom rocker all the way up to major label bands taken a stance.
For my most recent EP release I decided to try an experiment of my own to see first hand if there was any merit to giving my music away for free. The results are fascinating.
Name Your Price Isn’t The Same As Free
Now I wanted to offer my EP to people for free. But I didn’t want to say it quite like that. I made the important distinction of offering my EP with a “Name Your Price” option. Sometimes this is called “Pay What You Want” but it’s exactly the same thing: a subconscious suggestion.
If I said my EP is “free” then I know exactly how much money I’ll make off it: $0. But when I say “Download my EP and name your price (or pay what you want)” there is a subtle shift in mindset that happens. The customer knows that technically they can download it for free, but part of them feels like the really should pay something.
Read More →