Publisher Lets Customers Pay What They Want for Latest Title
San Diego-based Code Publishing is allowing customers to choose the price they would like to pay for either the paperback or the electronic version of its latest book, "Everyone Agrees," by J.S.B. Morse. Customers must pay a minimum of $4.95 for the paperback; no minimum payment is required for the e-book. Both versions are available at www.Nezgo.com/ea.
"We think the book is a monumental product and just want people to read it, so we lowered all the obstacles we could think of that are keeping readers from it, most notably the price," says Jenny Langley, director of marketing for the self-help and philosophy book publisher, noting that the average price readers have paid for the book is just under $9.
The "pay-what-you-choose" model is not without precedent: The rock band Radiohead released its 2007 album "In Rainbows" in a similar fashion online; and Paste, an independently published music magazine, allowed readers to name their price for subscriptions.