I think that you are actually referring to the band Radiohead and the way that they successfully marketed and sold their album In Rainbows (where they allowed their fans to buy their album at whatever price they wanted). Coldplay, on the other hand, is still under contract with Capitol Records, and so cannot sell their songs directly to the public.

The reason Radiohead was able to do this was because when their last record contract expired, they decide not to renew it or sign a new one with a different label. However, the reason that the "direct to public" method was so successful for them was because they already had a substantial following and exposure throughout the world. Up and coming bands would have a hard time making this work because they don't have the name recognition that Radiohead do.

Now that Radiohead has broken the seal on this type of direct sales, I think that at least a few bigger, well-established bands will probably follow suit as soon as they are done with their current record contracts.

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