For the past week, international music circles have been abuzz about Radiohead's plans to release its new album, In Rainbows, as an exclusive digital download on the band's Web site starting Wednesday. The British alt-rock band promises to release a conventional CD version of the album next year. But in the meantime, you can get the music only at the Web site, and here's The Big Catch: You, the fan, choose what to pay for it.

That part of the plan is unprecedented and, in a way, downright brilliant. This way, the band, which is currently not under contract with a label, drives traffic directly to its Web site, where the group can sell more exclusive downloads and merchandise. Radiohead also directs attention to upcoming tours this way. The move pretty much cuts out an expensive marketing and promotional team, so much more of the profits from In Rainbows goes back to Radiohead.   

But there have already been problems with this plan. Because of the traffic, the Web site takes forever to download. There also have been complaints that the credit card transactions aren't going through seamlessly. This could alienate those who want the music NOW! Also, if the music is available only through one source, Radiohead could cut itself off from more potential buyers.

But the group, an early adopter of online marketing, seems pretty smart. I have a feeling these guys know how to play this. I wouldn't be surprised if In Rainbows hit stores sometime around the holiday season, when folks are buying a lot of new music.

This unprecedented move also sends up a red flag to the music industry: It's gonna take a whole lotta creativity to promote music these days. And if Radiohead makes truckloads of money on this venture, labels will have to seriously rework their contracts to keep established acts on the rosters.