Sign up for Verge Deals to get deals on products we've tested sent to your inbox daily. That is going to be very, very lucrative for her. Lets say Spotify has 100 subscribers, just to make it easy. Its a part of their portfolio to help them sell phones, or to help them sell everything in cardboard boxes or whatever it might be. Ringtones was one of them. They want to have a relationship with it. This was a religious war inside the tech and media industries. 2022 CBS Interactive Inc. All Rights Reserved. Taylor Swift will release additional tickets for The Eras Tour, one month on from the Ticketmaster sales debacle which crashed the site and saw thousands of fans miss out. My instinct is that theyre like, Yeah, heres this license to see if your little ticky-tockie works, and now theyre at the end of a period and theyre like, Oh, it worked really well. Well, it was similar yet different in many ways. It wasnt at its lowest, but it was dropping quickly. The way you make more money is often either by getting your stuff to more people or by being some middleman who gets a better, stronger contract. In their suit, Swifties claim Ticketmaster tacitly encourages scalpers because the company gets paid fees every time tickets are resold. Where is Xbox Music? So I think something could happen there. Just by Googling the name of the song, you can probably find a way to listen to it. They were the dominant form of revenue. But culturally? There are plenty of places where they deserve credit, but in terms of their ownership stakes, no, of course not. In many ways, she is at her height and shes still breaking records on charts. She eventually had to go to where her listeners were. Its truly amazing that 2.4 million people got tickets, but it really pisses me off that a lot of them feel like they went through several bear attacks to get them., 2023 NYP Holdings, Inc. All Rights Reserved, Eminem, Taylor Swift, BTS and more donate items to MusiCares Charity Relief Auction, Taylor Swift is roasted and toasted on a Pop-Tart, Taylor Swift shocks fans with first live performance of Anti-Hero, EmRata curses Ellen DeGeneres after Taylor Swift interview resurfaces, The mega ticket marketplace has apologized. Many fans took to the internet to criticize Ticketmaster's handling of the pre-sales, including Rep. Alexandria Ocasio-Cortez, D-N.Y. Ticketmaster merged with Live Nation in 2010, a move which has been criticized as creating a monopoly. (Gareth Cattermole/TAS18/Getty Images for TAS / Getty Images). When you start getting into the number of people who are actually getting wealthy off of the streaming model, its a very, very small, elite group of people that get to have a successful music career. Now every single time that people stream these songs, she gets more of the share of that stream if they listen to Taylors version. They give you the movies that they have licensed, then things just disappear and you no longer have them. You have to enter the content creator world and build your identity off that. Taylor Swift tour tickets listed for as much as $22,000 as Ticketmaster crashes Millions of fans try to snap up presale tickets to singer's 2023 Eras tour in the US, with Ticketmaster's. The singer commented on the issue on her Instagram story on Friday, saying that Ticketmaster had assured her team "multiple times" they "could handle this kind of demand. To be fair, the big knock on the music industry during the CD era was that CDs were full of filler tracks in order to make them look like a better value than they were. Not just because of this holdup, but because they realize that this is the place where they are going to monetize. For the labels, its very clear. </p> Its not often that a legacy company is able to navigate between the murky waters of a physical goods business to an intellectual property business. Its going to be this AI-generated image of the music that you have the NFT to which will be valuable. I mean, talk about convoluted. Earlier that morning, Liberty Media CEO Greg Maffei (Liberty owns part of Live Nation, of which Ticketmaster is a subsidiary), had blamed the situation on the "massive demand" for Swift tickets during an interview with CNBC. Thats the baseline expectation I think all of us have of the metaverse. From how the chaos ensued to the response it's provoking from lawmakers, here's everything to know about the debacle surrounding Ticketmaster and Taylor Swift's Eras Tour. David Hasselhoff is still doing well in Germany. There are many versions of this story. It's truly amazing that 2.4 million people got tickets, but it really pisses me off that a lot of them felt like they had to go through several bear attacks to get them. You want to own the most amount of that master recording as you possibly can. They have been growing and they are listening in this way. It used to be that you sold the music, and all the other stuff was just promotion for the music as this thing you sold. )," the Grammy winner wrote on social media. Look, I recognize that it is beautifully made music. I actually want to instruct the listener. Are there any other artists that have done it differently or better than she has? It should be more valued, but there is certainly money to be made. This material may not be published, broadcast, rewritten, or redistributed. If you go see an Avengers movie, you might spend $20 on a ticket plus popcorn, or if you watch it on streaming, you might spend an enormous amount of money for those streaming services. She said she's "trying to figure out how the situation can be improved moving forward. The utility of it, I think, is lacking. Its really hard to change behavior. There are public funds now where you can invest in music publishing. Now we live in a world where people can blow up on TikTok overnight and negotiate very favorable terms with a label because they have already built an audience. I hope those things can also survive so that whoever has been able to have the time to develop that talent can keep on doing it. And while the inquiry is said to predate the Eras tour disaster, the situation further exacerbated complaints from fans, musicians and politicians alike. The company did not say whether more tickets would be sold for the tour at a later date. She also shared the names of the performers who will be joining her onstage for her opening acts, including Paramore, Phoebe Bridgers and HAIM, before ending with a message to her fans: "I can't WAIT to see your gorgeous faces out there. I think that piece of it is the thing that makes her the most unusual. That is true. It was the labels job to promote you, manufacture CDs, truck those CDs to stores all over the country, manage their relationships with physical media, and distribute it. Its happening at Warner Discovery. I think that they were smart to chase what the people were doing. A group of 25 incensed Taylor Swift fans from across the country are suing Ticketmaster for fraud and intentional misrepresentation after last month's Eras tour debacle. If youre a music label, youre almost like a venture capitalist. To get music, you had to go to the store and buy a physical copy of a CD, and that made everybody rich. They want to buy their music. The documents cited the "disaster" that occurred on Nov. 15 and Nov. 16, along with the "cancellation of general sale tickets scheduled for Nov. 18," alleging that Ticketmaster "has effectuated this anticompetitive scheme by forcing fans of musicians to exclusively use Ticketmaster for presale and sales prices, which are above what a competitive market price would be.". Everyone knew getting tickets for Taylor Swift's The Eras Tour was going . People want higher payouts per stream, and they want streams that are fair to artists and actually connected to their subscription. Ticketmaster, based in Beverly Hills, crashed shortly after 10 a.m. Tuesday after reporting historically unprecedented demand, with "millions of fans" showing up to buy tickets for the TaylorSwiftTix Presale event. ", "Last week, the competition problem in ticketing markets was made painfully obvious when Ticketmaster's website failed hundreds of thousands of fans hoping to purchase concert tickets," said Klobuchar in a statement, citing how the "high fees, site disruptions and cancellations" customers were faced with showed that Ticketmaster "does not face any pressure to continually innovate and improve. Taylor puts out her first record and she wants people to listen to it, so she has to go on radio and on tour. There are hundreds of people who have been signed now off of the platform to label deals. Additionally, less than 5% of tickets had been sold or posted on the secondary market. That to me seems like the most opaque part of this entire thing. "We apologized for the difficulties you may have experienced, and have been asked by Taylor's team to create this additional opportunity for you to purchase tickets.". Hes another nuclear, bright talent. I mean, well find out. We should just do a mashup of that sigh across all episodes. "Due to extraordinarily high demands on ticketing systems and insufficient remaining ticket inventory to meet that demand, tomorrow's public on-sale for Taylor Swift | The Eras Tour has been cancelled," Ticketmaster shared Thursday on Twitter. This is nothing new. I love having you on the show. No tickets and a card I cant use.. "First, we want to apologize to Taylor and all of her fans especially those who had a terrible experience trying to purchase tickets. Its like, How long is this fandom going to last? There has been a financialization of music catalogs, and many people are selling their catalogs for multiples of over 10. They got everything for free. Its really easy to say to listeners, Hey, this thing doesnt make any sense, but that is the business model that we have all bought into, whether or not were conscious of it. There was like a 10-year dark era, the Middle Ages, where the industry was searching for the next thing. We've been doing this for decades together and over the years, I've brought so many elements of my career in house. "Thank you for wanting to be there," she said. Thank you for your patience as we continue managing this huge demand.. She wanted to get better terms, and she was able to use her clout to bring a lot of attention to areas where other artists were also unhappy about some of these streaming arrangements. Well, I want my money to go to the artist as directly as possible. A few hours after the sale's planned start time, Ticketmaster tweeted that the issues were due to "historically unprecedented demand" and announced it was pushing back the start times for some West Coast venues. The company later said that over 3.5 million users pre-registered for the sale, making it the largest registration in Ticketmaster history. I didnt want to rent, and I wasnt into the streaming thing. On Instagram Friday, she posted news of the lawsuit filing with the caption: Look What You Made Me Do. In a message to The Post, Barfuss explained her participation in the suit. That is ultimately the place where youre most likely to be making your money. I hate that word, but lets just say it. The Capital One presale was also rescheduled for the following day. Shes not going to buy it, so shes just recreating it, and that is an age-old thing that so many different artists have done. From the listeners and the artists point of view, its like, What? The labels go along with this because functionally, they have no choice. Yeah. Oftentimes you can buy greatest hits records, and its not actually the greatest hits, its re-recordings of the greatest hits. Your job is to go make a ton of bets and hope that one of those will fund all of the bets that fail, and that it does so extremely well and makes you a lot of money. Apples basically saying, Listen, in order to launch a streaming service, we need a ton of users. Im pulling my back catalog. That was bold, because by 2014, the winds were in the sails of streaming. Thank you so much. Ticketmaster still has 170,000 Taylor Swift Eras Tour tickets after its canceled general sale for the tour. Spotify and others pay billions of dollars to rights-holders, and she is making sure that shes a rights-holder. In the 2010s, with each record release, there seemed to be a major dispute with the streamers., Well in the 2010s, with each record release, there seemed to be a major dispute with the streamers. She had bumps along the road doing so. I would pick Lil Nas X as well. Its like, Ugh. People often want to be mad at Spotify, and there are very reasonable objections to be had, but Spotify is right to say that they pay out billions of dollars per year to rights-holders. everything else your concert tickets, your merch, your NFTs, whatever it is. It seems the only option is to go find radical alternatives and get into the world of crypto in order to survive in music. I feel like Ticketmaster completely screwed up on this one. Please enter valid email address to continue. I was like, Napster is the future of the industry! I think underneath that is a recognition from the listener that your relationship is with the artist. If and when virtual reality becomes a compelling, mainstream product for many, many people, music will certainly be at the centerpiece . I dont have insight into her taxes, but obviously she has done movies and she has brand endorsements. In the case of touring, there are way more artists than ever that want to tour at the moment because they had to hold back during COVID-19. We were looking at the number of legacy artists that are selling off their catalogs for huge amounts of money to private equity companies, who all think theyre going to make massive returns on owning those catalogs of music. Even though theres more music than ever, there is so much historical music that is not available. Im off., Nilay, heres the thing: that is the model of streaming. Update: On Thursday, Nov. 17, Ticketmaster tweeted, "Due to extraordinarily high demands on ticketing systems and insufficient remaining ticket inventory to meet that demand, tomorrow's public on-sale for Taylor Swift | The Eras Tour has been cancelled.". The suit also alleged that Ticketmaster provided more codes than ticket allotment and scheduled the general ticket sale "knowing they would not have the quantity necessary" to fulfill the demand. The supply of music was growing, and the overall proportion of revenues per artist per song had been declining. Even if a lot of people listen to our music, were not sure how much we are getting paid.. There is no shortage of other people that have done so. 4 tickets together to the ERA'S TOUR Taylor Swift on Saturday May 13th (5/13/23)! Talk to us about the CD era. 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