The rights to Swift’s music have been sold without her consent.
Taylor Swift is currently one of the most valuable musicians on the entire chart, with several of her singles and albums selling absolute gangbusters in the last decade. However, Swift herself has had something of a fluctuating involvement in the usage of her own back catalog of music, something which she has spent the last year or so trying to remedy.
In a tweet on Monday night, Swift announced that according to a letter she received several weeks ago from a private equity company, Shamrock Holdings, the rights to her music, videos, and album art had been sold by Scooter Braun, a music industry mogul. Braun, who owns and manages multiple major chart toppers like Justin Bieber and Ariana Grande, bought the rights to Swift’s music about a year ago. Swift has been trying to enter into negotiations with him to gain more control over the rights, but when she and her legal team attempted to contact him, they were told Braun would not even offer her chance at a bid unless she signed an NDA that forbade her from speaking negatively about him.
Been getting a lot of questions about the recent sale of my old masters. I hope this clears things up. pic.twitter.com/sscKXp2ibD
— Taylor Swift (@taylorswift13) November 16, 2020
Shamrock Holdings bought the rights to Swift’s music from Braun for approximately $300 million. According to their letter, they wanted to seek Swift’s approval beforehand, but one of Braun’s conditions was that she was not to be contacted until the deal was already complete. Not only did this rather large transaction occur without Swift’s knowledge or consent, but according to the terms of Shamrock’s sale, Braun will still be profiting off of Swift’s music for a long time, something that she cannot personally agree with.
Swift’s current plan to pull the rug out from under Braun is to rerecord the master tapes for all of her songs, a process that she has already begun and is apparently enjoying.