Taylor Swift Buys Back Her Music By Paying Millions — Report
Taylor Swift has recently bought back her music, rewriting the narrative of artistic freedom. Years after Scooter Braun bought the masters to her first six studio albums, they were sold to Shamrock Capital. The pop star reportedly paid an estimated $360 million to buy back the rights to her music. This chapter marks a major milestone in Swift's career after a long-fought battle over artistic control.
In a landmark move, Taylor Swift reportedly bought back her music for almost $360 million. The master of her early discography, from her self-titled debut to 'Reputation,' was sold off in 2019. Scooter Braun's Ithaca Holdings purchased the albums, which were later sold to a private equity firm, Shamrock Capital. Swift was not aware of the negotiations and learned about the deals after they were finalized.
As per Billboard, Shamrock Capital struck a deal with Swift to sell the rights back to her. Moreover, they aligned the purchase price roughly with the firm's original investment. The firm reportedly made around $100 million during its three-year ownership of Swift's masters. However, it sold them off to the 'Cruel Summer' singer with little to no additional profit by striking the estimated $360 million deal.
Swift has been vocal about the importance of artists' rights over their music since the ordeal began. As a result of the unprecedented acquisition of her albums by Braun, the Grammy winner publicly committed to re-recording the six albums. She began recording them under the banner of 'Taylor's Version,' adding songs 'From the Vault.'
Her re-recorded albums dominated the charts, even outperforming the originals in streaming and sales, according to Billboard. Swift's hard-won victory marks a turning point for artists' rights, creating a broader impact. Besides, her estimated net worth is already among the highest for musicians worldwide. Now that the singer-songwriter has full control over the masters, her net worth will likely see further growth.
The post Taylor Swift Buys Back Her Music By Paying Millions — Report appeared first on Reality Tea.
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