Busking in the Subway

Nick Thompson is a songwriter who plays solo instrumental guitar in the subways of New York. He believes CDs should be cheap. He allows people to pay whatever they want for his CDs. He says the median, mean and mode are all $5 and he figures this is what people are willing to pay for unfamiliar music from an unknown artist.

In five years of doing this he has learned something about CD buyers and he offers some advice for the struggling music industry.

Thompson draws some interesting parallels between his experiences with music buyers in the subway station and the music industry. Hear them and hear why he supports file sharing in his audio commentary on National Public Radio.

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