Just my 2 cents worth - I would go for it with your price setting. Plus, I would add a 4th tier option (one time donation-variable price).
There are a few studies on choice and happiness - people like choices (a few) and are overwhelmee with many. Believe it or not, these articles are peer reviewed in the scientific literature -- I'm too lazy to go look them up right now and give the references but I'm going to bet that you are intuitively aware of the research or have already read this if you came up with such a plan, Jim.
With not only music fans, but the ability to reach people all over the internet -- I am sure someone somewhere will pay even the highest cost. I'd say keep up with the blog approach to let them have an insight to your music. You may want to offer something even more (a contest - let someone write music with you, propose a topic for a song, interview?) - although that may be selling yourself out or letting the customer in a bit too much. Also going to assume that you are giving the link to your website to not just fans but everyone you know (friends, colleagues, family, etc.).
I would have the variable price option because I am willing to bet you may have young fans or fans without a lot of money - a college student, someone still in school, etc. That person may really enjoy the music, be happy throwing in $5 - but even the lowest subscription would be a hardship.
I'd put links to your website, etc, on myspace, facebook, etc - let younger fans be aware of your projects and seriously, I would bet a few people would throw some money towards the project. I've seen other people successful with small projects like this.
Good luck.
PS: I may be on the way to getting myself banned now -- but I would try posting a question like this in a larger community. Every tried metafilter? Google this. May be a better place to post and get a lot of diverse responses to your question.  |