|
Post by Admin on Nov 16, 2020 22:59:49 GMT
After nearly a year and a half of beefing, Scooter Braun has said goodbye to Taylor Swift's master recordings ... unloading it for a pretty penny.
Scooter's company -- Ithaca Holdings LLC -- has reportedly sold the master rights to Taylor's first 6 albums to an unknown investment fund. The buyer reportedly dropped north of $300 million for the deal, which closed a couple of weeks ago.
The deal, first reported by Variety, includes Big Machine's client roster ... which includes Sheryl Crow, Florida Georgia Line, Thomas Rhett, Rascal Flatts and the trio formerly known as Lady Antebellum. The label will remain under Scooter and Scott's control.
It's unclear if the bad blood between Scooter and Taylor will dissipate ... there sure is a lot of bad blood. Remember, Scott's company bought Taylor's old label, Big Machine, back in June 2019. This, of course, pissed off Taylor, who ranted against Scooter for snapping up her early catalog ... claiming the move blindsided her and stripped her of her life's work.
Taylor, whose deal with BM expired in 2018, also accused Scooter of being an industry punk. And, when she tried to sing her songs at last year's American Music Awards ... Taylor claimed Scooter and Scott were blocking her.
But, it's not all bad news for Taylor, who as of this month is free to re-record songs from her first 5 Big Machine-issued albums. The goal here's for fans to stream her re-recorded version instead of the ones owned by the new owner. Same goes for commercial business ... like when TV shows/commercials, for example, decide which versions they want to license.
|
|
|
Post by Admin on Nov 17, 2020 7:36:57 GMT
Taylor Swift responded to Scooter Braun’s sale of her master records on Monday with a lengthy letter to fans explaining the state of her music and more. “This was the second time my music had been sold without my knowledge,” the “Cardigan” singer wrote. More than a year after the music executive’s Ithaca Holdings acquired the singer’s master recordings of her first albums from former Swift’s former label Big Machine Label Group, Braun sold the music to private equity company Shamrock Holdings. Swift laid the scenario all out for her fans, explaining that Shamrock had reached out, notifying her of the purchase. However, despite the firm’s willingness to speak with Taylor, the singer wanted little to do with the deal, noting that “Scooter’s participation is a non-starter for me.” “As soon as we started communication with Shamrock, I learned that under their terms Scooter Braun will continue to profit off my old musical catalog for many years,” the musician added. While she expressed dismay in the non-consenual sale of her music, the “Cardigan” and “Exile” singer added that she has recently started re-recording her older music, includes her self-titled album and Grammy winning Fearless and 1989. In the letter she thanks fans for their constant support and promised them surprises down the road. “I love you guys and I’m just gonna keep cruising, as they say,” she concluded. In July 2019, Swift dubbed Braun’s acquisition “my worst case scenario” in a Tumblr post. In November 2019 the tension between Swift and Braun escalated after the exec and Big Machine Label Group head Scott Borchetta urged the singer not to record version of her old music. Swift claimed that her former label owed her nearly $8 million in unpaid royalties. The dispute then brought upon reactions from notable musicians. Halsey and Selena Gomez were among those siding with Swift while musicians including Justin Bieber supported Braun.
|
|