Stan Schroeder posted a story on Mashable today about Trent Reznor raising over $850.000 for a fan who needs a heart transplant. Nine Inch Nails and Jane’s Addiction set up a site to take donations for Eric De La Cruz and offered special gifts and access to the bands for larger donations.
Schroeder’s insights about NIN’s business model are enlightening:
“Once again, NiN prove that fans are very willing to give money (even significant amounts of money) for CDs or digital downloads, if they come with added value that seems fair to them.”
Likewise, his analysis of the mainstream music industry is biting:
“The music industry, on the other hand, has been doing exactly the opposite for years…they even tried to decrease value by introducing DRM to digital copies, which is now a scorned and widely abandoned tactic. No wonder they’re now complaining about how Internet is bad for the industry.”
Do you agree with Schroeder’s analysis? Would you consider a similar fundraiser/giveaway?