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Sunday, November 18, 2007

Pay what you want, what you really really want

Inspired by the rock group Radiohead's idea of inviting fans to pay what they think they can - or indeed want to - for their latest realease, a US magazine has boldly followed suit.
Paste magazine, which covers the indie music scene, is offering readers the chance to "Price It Yourself" on their subscriptions.
“We were curious to know what our customers thought we were worth. And what better way to find out, than to let them tell us?” explained Paste President/Publisher Tim Regan-Porter. “While it’s certainly a bit unconventional, we also see it as a chance to get our product in the hands of people who could become lifelong fans. It’s been our experience that once people become familiar with Paste, they turn into loyal readers.”
To ensure this move doesn't result in a Hoover-type promotional disaster, Paste have set a minimum price of $1 a subscription and interestingly have incentivised readers to pay more than the standard price of $20 by homouring anyone who does in print.

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