Radiohead's decision to allow fans to pay what they want for their new album has backfired.
The band's 'honesty experience', which gave people the choice to download 'In Rainbows' for free or pay a sum of their choosing, saw three out of five fans opting not to pay for the LP.
A massive 62 per cent of web users who visited the bespoke site failed to enter their credit card details.
Of the 1.2 million people who downloaded the album between October 10 and October 29, the average price was found to be $6, according to findings by internet information provider comScore.
This figure was largely boosted by the 12 per cent of 'honest' fans who were willing to pay between $8 to $12 - the approximate cost of downloading the album from an online retail music outlet such as iTunes.
American fans were the most generous, paying an average of $8.05, compared to $4.64 paid outside the US.
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