Record companies have been whining for years that digital downloads are eroding their bottom line, but as of today, the music industry have something new to cry about. For the first time ever, music fans were able to pay as little or as much as they want for an album, specifically it’s Radiohead’s newest independent release, In Rainbow. The response was overwhelming as fans crashed the band’s website, and record labels expressed renewed concerns about how to deal with the digital threat.

Radiohead isn’t the only band to think along these lines, as artists like Nine Inch Nails, Oasis and Jamiroquai all have similar plans on giving their music away in digital form for free. Some argue that the role of record labels are indispensable, as they provide mass marketing and distribution that smaller bands won’t be able to afford.

Can bands be successful without label support or is Radiohead defining the future of music? Will you pay for Radiohead’s new album?