Radiohead is conducting an interesting experiment in business model innovation. While musicians are known to be creative, their contracts with the more conservative parts of the music industry generally stop them innovating their way out of business. As it is not currently tied to a record label, the band is not bound by the same rules, and has decided that not only can fans download their new album online, but they can also decide how much they should pay for it. A spokesman for the band said :

“Although the idea is that you can decide what you want to pay, most people are deciding on a normal retail price with very few trying to buy it for a penny.”

How would your customers react if you made the same offer to them?

UPDATE : IFTF has more here.