It's finally out: Report says Taylor Swift paid a whopping $360 million to buy back her songs
Taylor Swift
recently made history in the music industry yet again. After years of fighting for control of her early work, she has finally gotten it back. Reports say that
Taylor Swift reclaimed the masters
of her first six albums, taking back control of them years after they were sold without her permission.
Years after
Scooter Braun
acquired the rights to her first six studio albums, they were sold to
Shamrock Capital
. Reportedly, Taylor Swift paid an incredible sum to reclaim her masters. This chapter signifies a pivotal moment in Swift's journey, following a determined struggle for artistic autonomy.
How much did she pay to reclaim her masters?
There have been a lot of speculations lately around the amount she paid to reclaim her music back. People say the pop star spent about $360 million to get back the rights to her music. Swift and Shamrock Capital reached an agreement for Swift to repurchase the rights, according to Billboard.
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They roughly matched the purchase price to the company's initial investment. According to reports, the company made about $100 million while it owned Swift's masters for three years.
But by negotiating the estimated $360 million deal, it sold them to the pop sensation with little to no extra profit, as per a report by Mandatory.
Live Events
They sold the rights to her early albums in 2019, from her first album, "Taylor Swift," to "Reputation." Ithaca Holdings, led by Scooter Braun, acquired the albums, which were subsequently sold to the private equity firm Shamrock Capital.
Swift was unaware of the negotiations, only learning about the finalized deals after their completion. Since the beginning of the ordeal, Swift has been outspoken about the value of artists' rights over their music.
Following Braun's historic purchase of her albums, the Grammy winner made a public pledge to rerecord the six albums. She started recording them under the name "Taylor's Version," adding "From the Vault" to the mix.
What impact could this have on other artists?
According to Billboard, her re-recorded albums topped the charts and even outsold the originals in terms of sales and streaming. Swift's hard-won triumph has a wider impact and represents a turning point for artists' rights.
FAQs
How much did Taylor Swift spend to get her music back?
She is said to have paid Shamrock Capital about $360 million to get back the rights to her first six albums.
Why is this so important in the music business?
Swift's choice shows how important it is for artists to own their work and may inspire others to fight for creative control.
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