If you've been wondering how are Trent Reznor and his Nine Inch Nails doing since they ditched their record company and decided to give away parts of their new album, Ghosts I-IV, and sell the rest for peanuts ($5,) you needn't worry: they're doing just fine.

In fact, 800,000 transactions in the first week have generated $1.6 million in revenue. And that's after Trent himself urged his fans to freely exchange and distribute the album via P2P. I guess this is the final nail in the coffin of the theory that "you cannot compete with free," but we're sure that the music industry will keep singing that tune for quite a while.