The rights to his first six albums were sold. And it is the second time that it happens.
Once again, Taylor Swift finds herself in conflict over her music. According Variety, the record producer Scooter Braun sold the rights to the singer’s first six albums for $ 300 million two weeks ago. Swift confirmed the news on Twitter.
Braun bought the Big Machine label in 2019, taking over their clients, distribution deals, publishers and the recordings that included the singer’s titles Taylor Swift, Fearless, Speak Now, Red, 1989 and Reputation. Ithaca Holdings LLC sold the rights to the artist’s recordings to an investment fund.
“A few weeks ago my team received a letter from a private equity company called Shamrock Holdings informing us that they had bought 100% of my music, videos and covers,” Swift confirmed on his social networks.
In the discharge, he explained that this is the second time your music has been sold without your consent. After making contact with the new owners, he learned that Braun asked that no one notify the artist or her team before the sale is a fact. And he revealed that Braun will continue to profit from playing his songs.
According to Swift, she was willing to be a partner at Shamrock Holdings, but that is not a possibility as she has no intention of re-engaging with Braun.
The author of Folklore she owns the lyrics of her first songs, but not the audio of her recordings. But nevertheless, since August 2019 he is free to re-record them and as he explained, he has already begun to do so.
With that strategy, you would achieve that the buyer’s income is reduced. Fans would listen to the new versions and she would charge for the use of her music in advertisements, television shows, movies, games, among others.
“I hope you understand that this is my only way to regain the pride I once had in listening to songs from my first six albums and also to allow my fans to listen to those albums without feelings of guilt for benefiting Scooter,” Swift said.
The multiple Grammy winner has been struggling for a little over a year to get her music back. When asked about the loss of rights to her first albums, the artist called Braun a “bully” and said that the businessman was “the definition of toxic male privilege in our industry.”
On the first sale of her albums, Swift said: “This just happened without my approval, consultation or consent. After I was denied the opportunity to purchase my music, my entire catalog was sold to Scooter Braun’s Ithaca Holdings in a deal. which I was told was funded by the Soros family, 23 Capital, and Carlyle Group. However, to this day, none of these investors have bothered to contact me or with my team directly to perform due diligence on your investment. About your investment in me. Asking how I might feel about the new owner of my art, the music I wrote, the videos I created, my photos, my lyrics, my album designs, “he complained.