Swift vs. Scooter: Taylor Striking Back Against Sale of Big Machine Masters
Fighting back against the sale of the masters of her first six albums, Taylor Swift is re-recording her work, hoping to divert the profits from the holding company that bought her work back to herself.
Ithaca Holdings, owned by Scooter Braun, sold the master recordings to Shamrock Holdings, a private equity firm for more than $300 million, according to Variety. The value of the masters could be well over $450 million.
This is the second time that Swift’s content has been sold. Ithaca purchased the Nashville-based independent record label Big Machine, founded in 2005, in June 2019 for just over $300 million. Swift’s catalog — from her 2006 self-titled debut to 2017’s Reputation — was believed to be worth some $140 million at that time.
Swift contends that she attempted to purchase the rights herself but was unable to do so without signing a non-disclosure agreement (NDA) regarding her dealings with Braun. In a letter to fans she published on Twitter today, Swift explained the saga of her attempts to regain control of her intellectual property.
Swift has been free to re-record her work as of this month, reports Variety. By doing so, she is making sure that her new versions, and not the ones previously owned by her former label, are the ones played by fans and used in movies, television shows and any number of commercial ventures. The company buying master rights would still need clearance from a song’s publisher in order to license it for commercial use going forward. so if Swift’s republished work is used, the revenue goes to her.
Are you looking forward to Swift’s revised versions of her work? Let us know in the comments.
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