Taylor Swift an Alternative Billionaire
- When
Swift signed with Big Machine Records as a teenager, she agreed to
a standard industry contract where the label owned the master
recordings of her first six albums. In 2019, Big Machine was sold to Scooter
Braun, whom Swift had publicly criticized, effectively transferring
ownership of her music to him.
- Re-recording
Strategy – Instead
of buying back her masters under unfavorable terms, Swift re-recorded
her albums under the label “Taylor’s Version”, which she now owns
outright. This move allowed her to control licensing and streaming
revenue, effectively devaluing the original recordings.
- Fan
& Industry Support
– Swift’s fans and commercial partners overwhelmingly shifted to using
her re-recorded versions, reducing the market value of the originals.
Many companies, including Netflix and major advertisers, opted for
“Taylor’s Version” tracks instead of the originals.
- Tour
& Business Ventures
– Swift’s Eras Tour became one of the highest-grossing tours in
history, further boosting her wealth. She also expanded her brand through merchandising,
film projects, and strategic partnerships, solidifying her financial
empire.
Impact on the Music Industry
Swift’s actions challenged
traditional record label contracts, setting a precedent for artists seeking
control over their work. Her success has led other musicians to reconsider
their contracts and ownership rights, making her a pioneer in artist
independence. There are always two copyrights. The first is for the musical
work itself, and this is usually controlled by the composer/songwriter, or by a
publishing company acting on their behalf. The second is the “master,” the
recorded performance of the work, and this is usually controlled by the label.
In response, record companies are now
trying to prohibit re-recordings for 20 or 30 years, not just two or three. And
this has become a key part of contract negotiations.
https://hls.harvard.edu/today/how-taylor-swift-changed-the-copyright-game-by-remaking-her-own-music/
Why does this matter? It is evident that
Taylor Swift’s billionaire status is due almost entirely to her own talents and
investments. She owns the inputs and the property rights to the re-recorded
music (referred to as Eras Tour). Her tour was self-funded. Her fans had the
choice of choosing the older version of Big Machine Records or her new Eras
Tour. The overwhelming response is nearly all are choosing the Eras Tour.
Taylor Swift guaged her fans’ preference to support her. She managed her image
to her fans with a consistent approach.
Taylor Swift was involved in a legal
case related to sexual assault, not harassment. In 2017, she countersued former
radio DJ David Mueller for battery and sexual assault after he sued her for
defamation. Mueller had been fired from his job after Swift accused him of
groping her during a 2013 meet-and-greet event. The trial lasted a week, and
the jury ruled in Swift's favor, awarding her a symbolic $1 in damages.
Swift pursued the case to set an example
for other victims of sexual assault, later pledging to donate to organizations
that support survivors. Her legal battle was widely covered in the media and
became a significant moment in discussions about accountability and consent in
the entertainment industry. During the trial, employees of Craftsy, a
Denver-based crafting and design website located directly opposite the
courtrooms, began to place post-it notes in the windows of their offices. The
notes spelled out lyrics and song names from Swift's discography, including
"Fearless", "I Knew You Were Trouble" and "Shake It
Off" as signs of encouragement and support for the singer during her court
appearances.
In the April 2019 issue of Elle,
Swift once again spoke of her trial. In the piece, titled "30 things I
learned before I turned 30", Swift stated, as her 13th lesson, that
"It’s my opinion that in cases of sexual assault, I believe the
victim." She credited this lesson to her own trial experience, drawing on
what she described as the stigma many women feel when speaking up about
assault.
Taylor Swift sexual assault trial -
Wikipedia https://en.wikipedia.org/wiki/Taylor_Swift_sexual_assault_trial
"Pursuing legal action is not only
protecting her own honor and dignity, but [that of] every voiceless woman who
might not have been able to fight against similar inappropriate actions,"
said public relations and brand strategist Marvet Britto.
Swift made the trial about women and
sexual assault where women are most often victimized. She stood up for women
who often don’t have the means (money) to defend themselves. Her fans got it
and repaid the loyalty. Often as talented people rise, they have insufficient
capital to cover the property rights of the value they are creating. After the
Eras Tour, she now has it all.
UPDATE: Taylor Swift has regained control over her entire body of work.
In a lengthy note posted to her official website on Friday, Swift announced: “All of the music I’ve ever made now belongs to me.”
The pop star said she purchased her catalog of recordings — originally released through Big Machine Records — from their most recent owner, the private equity firm Shamrock Capital. She did not disclose the amount.
https://apnews.com/article/taylor-swift-music-rights-masters-scooter-braun-672dc24782f5b0f04c864a6fd86665d8
https://static.wikia.nocookie.net/taylor-swift/images/f/fe/Eras_Tour_promo_Speak_Now.jpeg/revision/latest?cb=20231009155457
