Embrace digital or die, EMI told

Guy Hands, the financier whose private equity group, Terra Firma, bought EMI in August, told staff in a confidential e-mail last week that the industry had been too slow to embrace the digital revolution. Hands' letter was in response to the decision by Radiohead, one of the biggest bands nurtured by EMI but now out of contract with the label, to release their latest album via the internet and at a price decided by fans.

More on the Radiohead album

Supporting a rock band used to be an act of rebellion. In the face of today's mounting music piracy, it has become an act of conscience. Radiohead, the contrarian giants of British rock, last week released their seventh album on an unsuspecting public with the challenge of paying as little or as much as they chose. In Rainbows is available on the internet only, and the only compulsory charge is a 45p credit card handling fee.