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Taylor Swift
Photo: Roy Rochlin / Getty Images
- Big Machine Label Group reportedly sold Taylor Swifts masters for more than $ 300 million (R4.6 billion) according to Variety.
- Taylor confirmed the sale of his master’s degrees through a post on Twitter, but did not say how much it was sold for.
- According to the singer, Big Machine sold her recordings to a company called Shamrock Holdings.
- Although Taylor was willing to work out a deal with Shamrock, she quickly changed her mind when she learned that Scooter was still involved in the new deal, she shared in her tweet.
Big Machine Label Group reportedly sold the masters of Taylor Swift’s first six albums for an estimated $ 300 million (R4.6 billion), according to Variety. In fact, the publication reports that the figure could be much higher than that.
Taylor signed with Big Machine until 2018, eventually leaving the Universal Music Group / Republic label.
In 2019, Scooter Braun’s Ithaca Holdings LLC acquired Big Machine, along with Taylor’s masters that the company owned as part of contractual agreements.
Since moving away from Big Machine, Taylor has attempted to regain property from her masters, resulting in a public battle with Scooter.
Read more about it here: Taylor Swift and Scooter Braun Drama Unpacking
Regarding the sale of his master’s degrees, Taylor “cleared things up” in a tweet shared Tuesday.
“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 Scooter Braun music, videos and covers,” he wrote.
“This was the second time my music was sold without my knowledge. The letter told me that they wanted to contact me before the sale to let me know, but that Scooter Braun had required that they not contact me or my team, or the deal is canceled. “.
Taylor went on to say that he considered partnering with Shamrock, but that changed once he learned that Scooter would continue to benefit from his old music catalog with the new deal. “Scooter Braun’s involvement is not a start for me,” he wrote.
In her note, the singer also mentioned that she had tried to enter into negotiations with Scooter, but was asked to sign an “ironclad NDA stating that she could never say another word about Scooter Braun unless it was positive, before we could even look at it. BMLG’s financial history [Big Machine Label Group]. “
The star added that her legal team said the document “was absolutely NOT normal, and they had never seen an NDA like this unless it was to silence an assault accuser by paying for it.”
“He would never quote a price to my team,” he added. “These master recordings were not for sale to me.”
Starting in November 2020, Taylor can officially re-record music from her first five albums, and the singer is excited to do so. “I recently started re-recording some of my previous music and it has already proven to be exciting and creatively satisfying.”
Re-recording some of your tracks means Taylor will own the music and can benefit from the revenue it can generate from streaming services, videos, or use in commercials, movies, etc.
