Taylor Swift confirmed Monday that has started recording his old songs again, after an investment fund has acquired the rights of his first six albums for an estimated value of more than 250 million euros.
It’s about the second time Swift’s music is the subject of an out-of-control commercial transaction from the artist, who last year saw entrepreneurs Scooter Braun and Scott Borchetta get all his master recordings by buying his old label, Big Machine Label, where he was under contract between 2005 and 2018.
Singer You own the lyrics you wrote but not the recordings (audio), so she already advanced in the summer that she was planning to re-record her first six albums, something in which she is already immersed.
In this way, digital platforms and television programs or advertisements that use the artist’s music They will be able to license the re-recorded versions instead of the previous ones.
Swift’s announcement came hours after entertainment magazine Variety reported that a mutual fund had bought the rights to her music. One more chapter in your contractual disputes.
“A few weeks ago my team received a letter from a private equity company called Shamrock Holdings informing us that they had purchased 100% of my music, videos and album art.“Swift confirmed on her social media.
The investment fund, which is not directly related to the music industry, bought the package from the same entrepreneurs who acquired in 2019 the old stamp on which Swift began her career and that was the home of the singer until in 2018 she signed for Universal Music, after several disagreements in the negotiations of a new contract.
Fighting for control of your music
Everything goes back to the artist’s departure from his label. When American businessman Scooter Braun, known for representing artists such as Justin Bieber and Ariana Grande, bought Swift’s old label in 2019, he took control of six of the singer’s albums, two of them awarded the Grammy for their album. year.
According to Swift’s version, When he tried to acquire the rights, Braun and his partner Borchetta demanded a clause in which he had to undertake not to speak negatively of them nor the negotiation, before even knowing the price they were asking. “My legal team said this was not normal at all,” Swift said.
Now, despite the fact that control of the rights is in the hands of the new investment fund, Braun and Borchetta will continue to receive benefits from the exploitation of their music, which has encouraged the artist to throw herself back into the studio to record her songs ancient.
“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 guilt about benefiting Scooter,” Swift said.
Digsmak is a news publisher with over 12 years of reporting experiance; and have published in many industry leading publications and news sites.