EMI was eventually bought by Universal, so there was a lot of consolidation on the label side. While it's impossible for everyone to get tickets to these shows, we know we can do more to improve the experience and that's what we're focused on," it concluded. Eras will be Swifts first tour since 2018, in honor of her 10th studio album, Midnights, which dropped in October. That to me seems like the most opaque part of this entire 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. Search. 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. Even before ticket sales kicked off, the demand for Swift's upcoming tour was high so much so that the Midnights singer added an additional 17 performances, bringing the total to 52 shows. A few days later, Swift confirmed she was going back on tour in 2023. And its getting harder because all of these things are marketing funnels for other places. If the structure of this episode is, How are they going to ask you for $20? First it was CDs, now its tours and merch. Over time, as more music ended up on Spotify and people diversified their listening, there was more competition. We have to add some stipulations before we begin a conversation on Taylor Swift. There was a better option. Very much so. Metallica: famously unhappy about the internet. Ticketmaster has claimed that demand for Swift's tour was record-setting: More than 3.5 million people signed up for the Verified Fan presale, 1.5 million were given presale codes, and more. They wont stop being around me, and its TikTok. There is so much that is similar, especially the labels that have sustained, but how we interact with music and who distributes that music has radically changed. Steve Aoki told us why hes doing the Aokiverse. The music industry has certainly bet a lot of its time there. Do Guns N Roses get $0? Certainly, BTS fans are really upset that Ticketmaster is getting an antitrust look at this moment from Taylor Swift sales when they have been complaining about the same issues for many years. There was some amount of value there that you could see as an artist. ", The singer added that she was investigating why the situation unfolded the way it did and how it could be improved in the future. You have to pay us more money., I think that the labels response to TikTok and realizing its essential nature indicates how far the industry has come. Once they sign up, theres going to be a whole pool of money, and youre going to get it later., That doesnt really make sense when youre like, Yes, but I sold you the thing now and theyre listening to it now, so I should be getting paid now. This goes especially for artists who finally get their royalty payment many quarters later. Its obvious. That is not what Taylor is doing. There are still lots of experiments out there, but it seems like it might have been a little blip in the pan when everyone was bored at their house during the worst parts of lockdown. Please keep in mind: Capital [] There are so many robot nursery rhymes that go viral on TikTok and then they kind of go nowhere. However, Maffei defended the Live Nation and Ticketmaster merger. The tour is set to kick off in Arizona in March and wrap up in Los Angeles in August. Man Arrested In LA Street Takeover That Killed Woman On Christmas Day, 1,542 Calls About Potholes So Far + A Water Box For Skid Row, Preschool-8th Grade Open House - ST. CYRIL SCHOOL, [Free Masterclass] Increase Your Website Sales & Leads Using SEO, Conscious Life Expo 2023 'Messages for 2023' Channeled by Psychic Riz Mirza, Free self-guided, goal-setting worksheet for 2023, Preschool - 8th Grade Open House - ST. CYRIL SCHOOL, $7 Million In Marijuana Smuggled In Luggage From LAX To London, Hillside Collapses Outside Johnny Mathis' Home in Hollywood Hills, CA Scandal-Makers & Movie-Makers Shape 2022's Most Popular Baby Names, Michelin Adds 30 SoCal Restaurants To Prestigious Guide, Only In California: Car Chases Even Hollywood Couldn't Dream Up. Theyre past their prime. Its at a height, but its a height that feels like it cant keep going up. You dont have a streaming service unless you have all the music. ", She continued, "That's why we will hold a hearing on how consolidation in the live entertainment and ticketing industry harms customers and artists alike. LOS ANGELES, CA Trying to buy Taylor Swift tickets for the Eras Tour? Thats usually the best outcome. Here we go! You can make an entire business of curation in that way. The whole model feels utterly precarious right now. He, like Taylor, is brilliant at understanding where the culture is at and how to say or do something on the edge of acceptability within certain communities, to then cause uproar, backlash, and embrace. Music is an art creation business, a content creation business. Independent artists can fare well in this ecosystem if they get hundreds of millions of people to go listen to a song which they own the majority of, because then theyre getting the full fraction of a penny, rather than a tiny fraction of the fraction of a penny. And yet, not all the people are as rich as they should be. I've done this SPECIFICALLY to improve the quality of my fans' experience by doing it myself with my team who care as much about my fans as I do," she wrote. She got into a big fight with Apple Music, which wanted to give Apple Music away to new subscribers for free for three months in order to build a user base. Taylor Swift is speaking out amid the controversy surrounding Ticketmaster's handling of her upcoming "Eras" tour. Its like he gets human psychology. TikTok is profound, and it has very meaningfully shifted what is happening in music.. "I love music, and I love live music even more. She is unusual in that the length of her career spans from the end of the CD era into the streaming era. It used to be that people spent $20 on an album, and if we sold a lot of albums, then we made a lot of money. Greg Maffei, CEO of Liberty Media, opened up about the ticket fiasco during an appearance on CNBC's "Squawk on the Steet." Fans had until Nov. 9 to register for the Eras presale through Ticketmaster's Verified Fan program. Some 1.5 million fans were given a promo code for the verified fan presale, with the other 2 million placed on a waiting list. "This exceeded every expectation," Maffei explained. Certainly, the most successful are the K-pop groups. I mean, it puts us a bit more into the world and conversation of content creators. Then thats why she ends up crashing Ticketmaster, because she understands exactly how to leverage those fans into tickets. He and his Consumer Protection team will use every available tool to ensure that no consumer protection laws were violated," his office tweeted Wednesday. Even if a lot of people listen to our music, were not sure how much we are getting paid.. "Even our competitors want to come on our platform. All of the movie streamers do not give you all the movies. That set of conditions is one in which it feels to me like were on the precipice of a failed marketplace. The utility of it, I think, is lacking. Whats going to happen is your subscription is going to get pooled together with all of the other subscriptions, all of the other listeners, and all of their listening. 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. There are people getting better label deals than ever before because they are building their own fanbases. Its just like, Youre going to have to deal with it.. Invitations will be staggered by tour dates in each city. The saga started back when Swift first announced she was going on tour following the release of her 10th studio album, Midnights. Currently, in Ticketmaster, they are showing as transferrable. On Thursday, Ticketmaster canceled its general sale of the tour tickets that was supposed to debut on Friday after hours of complaints about pre-sale site complications and glitches. He doesnt just get the TikTok platform. We map her big moves against the business of music over time to try to see if this really is the end of an era. It's been a long time coming .". That is going to be very, very lucrative for her. You are having to convert people from place to place to place to place, and those platforms dont want you leaving. The supply of music was growing, and the overall proportion of revenues per artist per song had been declining. There are no founder-friendly music labels out there. While appearing on The Graham Norton Show, the "Bejeweled" singer first teased an upcoming tour tied to the release of her latest album. Say you only listen to Guns N Roses for an hour that month, but everybody else listens to Taylor for like 24 / 7, the entire time. A desperate Taylor Swift fan who forked out over $5.5k to secure tickets to see her idol on tour has admitted to feeling that she no longer wants to go and 'regrets' the purchase Since it cannot sell music in that one-to-one transaction, it is forever on the hunt for the $20. "We will sometime soonish. In. Everyone knew getting tickets for Taylor Swift's The Eras Tour was going . When I say streaming is on the rocks, what Im getting at is that its still not as valuable to anyone as it should be. This is just part of a much larger trend of the financialization of music catalogs. What was the structure of the industry in the 2000s? The site was supposed to open up for 1.5 million verified Taylor Swift fans," Maffei said. Taylors attempts to remake the music industry in the middle streaming period, as you might call it, all basically came to nothing, besides maybe a little more money or clout with the industry. Subscribe; . How did Spotify do at that moment? Everything has just become more expensive in our world with inflation. 2022 CBS Interactive Inc. All Rights Reserved. She was acting as a voice for a number of quite unhappy folks at that time. But the model of getting that $20 from touring isnt working for everyone. There was like a 10-year dark era, the Middle Ages, where the industry was searching for the next thing. If so, I think this is where all the hedge funds buying up these music catalogs will have been overwhelmingly right, and they will shove it in our faces and say, Look, this stuff was worth a hundred times more than what you thought it was, because when youre in these virtual worlds, all you want to do is have some great background music going on. Unless that all just gets written by AIs, then maybe not. There are all kinds of things that are happening in music to lead into that potential future world in which music will be essential. They would have to figure out how to succeed on the streaming side. So, yeah, its no wonder. The musics not valuable. You just have to front the money to put that on, and the army of semi trucks, grips, lighting techs, and all the people to do it. Now theyre saying, You need a following. Thats Decoder everybody. Im not being fair to Guns N Roses here, but lets just say its only you and three other people listening to them. Taylor Swift is speaking out amid the controversy surrounding Ticketmaster's handling of her upcoming "Eras" tour. This is nothing new. I have to say, Im not following it too closely because its such a complex ecosystem. I want to start all the way back then, with Taylor Swift in the CD era. Where is Xbox Music? Some potential ticket buyers were locked out of the sale when their Verified Fan codes failed to work, while others were initially able to secure tickets, only to lose them and get kicked out of the process once they tried to check out. Taylor Swift performs on stage during her "Reputation" stadium tour at Wembley Stadium in London on June 23, 2018. Spotify and others pay billions of dollars to rights-holders, and she is making sure that shes a rights-holder. Obviously, young Taylor Swift was going to want to have a great record deal so that her music could end up in every single store and car stereo. This is how theyre going to bring all of their money in. A Live Nation shareholder claimed 14 million people attempted to purchase Taylor Swift presale tickets on Tuesday ahead of the pop star's "The Eras Tour." If you were a songwriter like Taylor Swift, you would also get a cut of the publishing royalties. Where is Groove? I recognize Im a dinosaur and thats fine. (Matt Winkelmeyer/TAS18/Getty Images for TAS / Getty Images). I know we have to talk about the power of TikTok and why it has been the most profound, radical, and fastest change I have ever seen in the music industry, but I also think that the algorithm is overblown. But instead and this is us coming to the next era all of that revenue went to zero. Harris dead at 31. Thanks for contacting us. They dont have exactly that license right now, as far as I understand. Yeah. Thats the other thing I want to stipulate. We should just do a mashup of that sigh across all episodes. Now she has a massive fan base that she commands. Even before ticket sales kicked off, the demand for Swift's upcoming tour was high so much so that the Midnights singer added an . I am openly curious and I do not say that with any sort of darker cynicism whether or not the reality of those forecastable revenues from licensing and music catalogs will play out. There are many versions of this story. Thats the baseline expectation I think all of us have of the metaverse. Do you think she, as an artist, understood that this change was coming and was changing her strategy? Fans are also quite unhappy with a lot of these ticketing issues as well, obviously. ", "I'm not going to make excuses for anyone because we asked them, multiple times, if they could handle this kind of demand and we were assured they could," she said. 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. 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. It was almost like the launch of MTV in terms of a new place for people to be able to make hits with audiences that had been underappreciated, mostly young people hanging out on their phones. No, no, no. News / Jan 17, 2023 / 10:23 PM CST. There are still cracks in the model, right? I dont like this.. As the lucky fans who were selected for the presale attempted to join the waiting room queue for tickets, Ticketmaster is reportedly crashing on many people's devices. For example: based on the volume of traffic to our site, Taylor would need to perform over 900 stadium shows (almost 20x the number of shows she is doing)that's a stadium show every single night for the next 2.5 years. Many would say that one of the things that streaming has done is it has created a situation where there are forecastable, projectable revenues that say, Hey, this is how many people are listening to this music. Greg Maffei CEO of Liberty Media, which owns a majority stake of Live Nation told CNBCthat 14 million people and bots ended up flocking to the site. We now live in an intellectual property business, where a lot of these things are never actually even printed. I interviewed the artist Tai Verdes a year into the pandemic and he broke out his entire career on TikTok. The Capital One presale was also rescheduled for the following day. Swift said she hopes that she can provide more opportunities in the future for all of her fans who weren't able to get tickets to the tour. Its NFTs, its blockchain tokens, its whatever universe the DJs want to put together. Tuesdays top tech news: An Apple (a) day, Watch Apples 19-minute M2 MacBook Pro and Mini intro video, The Mac Pro is now Apples last machine with an Intel chip, Apples M1 iPad Air is back down to its lowest price, Apple announces MacBook Pros with M2 Pro and M2 Max chips. Fans who weren't able to secure tickets during the Verified Fan or Capital One presales were shocked when Ticketmaster announced that the general sale planned for Friday, Nov. 18 was officially canceled. For the labels, its very clear. I did everything the way they asked. It is fascinating to me that she is able to pull it off in this way, because there is no secondary transaction. Its something that you already briefly mentioned, which is that people are developing their own audiences before they ever go to a label and sign a deal. Even though theres more music than ever, there is so much historical music that is not available. If were at this moment in a 20-year cycle where everyone is unhappy with how this model is working, outside of probably the labels, then there is opportunity for someone to do something very creative and disruptive. You went on tour to promote your CD sales and you let radio stations in this country play the music, effectively for free, because that would lead to CD sales. You get the entire catalog of recorded music, in a way that Netflix doesnt have everything or HBO doesnt have everything. "Thank you for wanting to be there," she said. AP Taylor Swift at the MTV Europe Music Awards Nov. 13 in Duesseldorf, Germany. Li Cohen is a social media producer and trending reporter for CBS News, focusing on social justice issues. Apples basically saying, Listen, in order to launch a streaming service, we need a ton of users. Peoples behavior was going in one direction, and that was, I want all the stuff, just give it to me. Now, obviously, there are always going to be collectors. "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," read a tweet posted to the official Ticketmaster account. Lets just be more explicit about that to make it really clear for people. Taylor Swift's 10th studio album, "Midnights," was released on Oct. 21. First published on November 18, 2022 / 1:42 PM. Okay, theyre working to sell my product because they have a financial stake in the product too.. By suppliers, you mean the musicians themselves? What Im getting at is that the marketing funnel is really hard. There are just countless ways that people are trying to use these, including ownership of actual music, being able to have an exclusive license to music, or weird pictures of gifs that were made by an AI. Streaming is currently very much still a part of that. She was the product of a Nashville system and she did not have a built-in fan base when she released her first record. If you go back and listen to other Decoder conversations, like the one we had with Steve Boom from Amazon Music, its shocking to me how over and over again music itself is undervalued. Is the music on streaming still just marketing for that stuff, or is that valuable to her now as well? "sitting in the Ticketmaster queue while its paused really has me wishing i never heard a Taylor swift song in my life and that i didn't know who she was," another user added. I think that in continuing to connect with fandoms, there is always going to be a world of people making music and playing music for people because we love human connection. Pennsylvanians experiencing problems using the site should submit a complaint to my office: https://t.co/ZMqsSY0N2I. Thats going to happen. 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. The one place of hope that I see is that the value of most digital products at this moment, the NFTs, has declined so much. I dont know. You understand the value exchange there, even if the label is taking too much money. Will Austin Madonna tickets mirror Taylor Swift Ticketmaster . Despite the disruptions, the statement explained, the Nov. 15 sale broke the Ticketmaster record for most tickets sold for an artist in a single day, selling over 2 million tickets. You had a whole different set of distributors, given that there were physical goods, but most of them have shut down. Touring is certainly doing really well for her. The services are built on music, like audio trends, dances, and memes. There are no artists making billions of dollars through streaming as far as Im aware, but that said, there is certainly money to be made. It actually does create an opportunity where there are small collectibles that anybody can participate in. You have no idea how much that means.". Surely. Swift had been set to perform the "Lover Fest" tour in 2020, but it was canceled due to the coronavirus pandemic. Taylor Swift's Eras Tour is on track to sell $591 . 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. Ill bring this back to Taylor Swift, because she did live through these eras. 2022 CBS Interactive Inc. All Rights Reserved. There are not as many folks in the middle class of streaming as the streamers would like to say there are. Then inside of that, you might make some ancillary deals to re-record or whatever. Theres all this stuff happening and it requires participation and buy-in from the various music rights-holders to say, People can make remixes and syncs of our songs, but its unclear what set of rights is actually being given away. Theres publishing and this, et cetera Its the exact same sigh when people have to explain NFT copyright. 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. According to Ticketmaster's recent release, West Coast ticket sales scheduled to begin at 10 a.m. PST would be pushed back to 3 p.m. Now before we completely turned to streaming, the revenue model for touring and all the other stuff that artists did was inverted at that time. If the songs are just marketing for tour tickets, then you should put the songs everywhere you can all the time. Thats a whole other show that we can get to some other time. We have to see how big your TikTok is before we ever sign the deal.. We have to talk about music licensing. Dec. 12, 2022, 1:37 PM PST. The singer commented on the issue on her Instagram story on Friday, saying that . Are there any artists that jump out to you that have pulled this off besides the Justin Biebers and Charlie Puths of the world? A podcast from The Verge about big ideas and other problems. Its tenuous. Tickets for the Era tour were first available to purchase on Nov. 15 at 10 a.m. local venue time for the lucky 1.5 million fans who received Verified Fan codes. Does that stuff seem viable to you? Its still not the entire penny. These streaming platforms, which were valued as tech companies, are actually just digital media companies. Everyone is mad at Ticketmaster, and like, Dua Lipa needs to go home. Like everybody else, she has all those things, but she leans the hardest into music. Not just because of this holdup, but because they realize that this is the place where they are going to monetize. You have to make it on your own. Its long gone. She was like, Im out of here. To get the $20 at the end, we have to front too much money. Section 240 Row 15 Seats 22-25 Transfer from Ticketmaster electronically upon payment : tickets are in hand. There are all kinds of new ways to participate. 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Is that valuable to her now as well, obviously, there are people getting better deals... Streaming service, we have to add some stipulations before we begin a conversation Taylor... The place where they are going to be collectors its blockchain tokens, whatever! In one direction, and memes apples basically saying, Listen, Ticketmaster... My office: https: //t.co/ZMqsSY0N2I of users everything has just become more expensive in our world inflation... Potential future world in which it feels to me seems like the opaque. Behavior was going in one direction, and memes are building their own..
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