Welcome to the Cliff Richards download lottery – or should that be buying group?
Today’s news that Sir Cliff is embracing the new world of disruptive economics is fascinating on so many levels. In case you missed it check the story here, but in essence Cliff and his record company EMI are embracing the notion of buying groups and bulk discounts.
Here’s how – Cliff is setting a maximum price of £7.99 to download his new album, but depending on how many people pre-register for the album, the price could drop to £3.99. And of course, fans can help drive the price down by encouraging others to download it too! Cliff maximises his revenues, gets good PR, and of course drives up album sales so that he may get to top the album charts.
The music industry is suddenly trying out every economic model in an attempt to find one that works!