What Spotify is going to figure out is how much money came in from all of those subscriptions every single time period, and then theyre going to take that and divide it by all of the listening of everybody, such that Taylor Swift is going to get paid based on, Does she command the highest amount of listening on Spotify overall? Nilay, I know you love Guns N Roses. How did that war play out in the beginning? It goes without saying that I'm extremely protective of my fans. They are able to get out of there and cash out on the venture capital model. That is not what Taylor is doing. 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. Theyre not a music company anymore. They dont know how much listening is going to happen during that time, and they dont know exactly how much revenue theres going to be in any given time period either. In addition to a lawsuit filed by over two dozen fans against Live Nation Entertainment, Ticketmaster's parent company, the Swifties are taking their complaints against Ticketmaster all the way to D.C. ", "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. What we can sell them is convenience, as opposed to the chaos of piracy. Theyre like, Great, we know that revenues are growing. The singer commented on the issue on her Instagram story on Friday, saying. The talent scouts whose job it is to go and find new talent are surfing TikTok. Walk us through why Taylor wants to re-record her songs, and how this connects to the big catalog sales were seeing from artists like Neil Young, and there was a report about Dr Dre over the weekend. All presale codes and links sent via text will still work at that time, they said. Yeah, I mean Metallica was also unhappy at the time, but they didnt have the same amount of clout. Thats the other thing I want to stipulate. We have three big labels now, but we had four at the time. I live in the best city for it," said Amy . This is how theyre going to bring all of their money in. 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. Now every single time that people stream these songs, she gets more of the share of that stream if they listen to Taylors version. 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. Market data provided byFactset. 2022 CBS Interactive Inc. All Rights Reserved. However, I am worried at at some point the transferrable button will be unavailable. She was acting as a voice for a number of quite unhappy folks at that time. High demand for Taylor Swift concert tickets led Ticketmaster to delay the West Coast pre-sale. Go make a record. The greatest hits record is a really interesting example. In less than an hour of availability, the ticketing platform's servers were "unable to answer", with . Call it what you want, but it seems safe to say at this point that the rush to buy Taylor Swift concert tickets was a complete fiasco. A general sale was then planned for Nov. 18 for fans who didn't receive a Verified Fan code or have a Capital One card. Make no mistake: Ticketmaster deserves the scorn that it is currently receiving from Taylor Swift's listenership, a population of such size and power that it probably merits a spot in the. If I had to pick one, I would pick him. 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. I was talking about this with my friend Charlie Harding, the co-host of Switched on Pop, and he said that he thinks the upcoming Taylor Swift The Eras Tour is itself the end of an era in music that the age of cheap streaming services is coming to an inevitable conclusion and that something has to change in order for the industry to sustain itself in the future. The New York Times reported that the Justice Department was looking into whether Live Nation Entertainment, the parent company for Ticketmaster, has abused its power in the music industry. All of the movie streamers do not give you all the movies. Like everybody else, she has all those things, but she leans the hardest into music. Hopeful concert attendees could register in advance through Ticketmaster's Verified Fan Program for a Nov. 15 presale, while Capital One cardholders could participate in another presale happening that same day. Look, I recognize that it is beautifully made music. Leading the charge is Utah interior designer Julie Barfuss, who tweeted last month that she spent more than nine hours on the SeatGeek site attempting to buy Swift tickets. Then inside of that, you might make some ancillary deals to re-record or whatever. 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." Tennesee Attorney General Jonathan Skrmetti has launched an investigation into Ticketmaster due to the amount of issues raised by customers throughout the Swift pre-sales. They wont stop being around me, and its TikTok. There are hundreds of people who have been signed now off of the platform to label deals. Yeah. Since she has been listed as Billboard's Top Artist in the Artists 100 chart, with her song Antihero holding the top spot on the Billboard Hot 100 for the third week. They had raised the prices when they went from vinyl and cassettes to CDs. The Swifties are seeking $2,500 for each civil violation. He has transcended the platform. You just need a safe space of Guns N Roses fans making only Guns N Roses content. Yeah. Right? The music industry has certainly bet a lot of its time there. "The Eras Tour, a journey through the musical eras of my career (past & present!) There was some amount of value there that you could see as an artist. The labels go along with this because functionally, they have no choice. The saga started back when Swift first announced she was going on tour following the release of her 10th studio album, Midnights. The first leg of the tour will be in stadiums across the US, with international dates to be announced as soon as we can!" "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. I could probably name a bunch of 90s bands here, but I think were already at risk with the Taylor Swift fans. That helped persuade me eventually, but most of us were just trying to listen to everything that we wanted whenever we wanted. "Though AOC may not like every element of our business, interestingly, AEG, our competitor, who is the promoter for Taylor Swift, chose to use us because, in reality, we are the largest and most effective ticket seller in the world," he said. To your point, I think peoples expectations are rightly rising because they see something so spectacular, especially when you can go on YouTube and see a clip of the thing which was spectacular. Search. It met more needs for a smaller slice of people that were less discerning, and then it just took over everything because it was more convenient. "The site was supposed to be opened up for 1.5 million verified Taylor Swift fans," he said. As I said, if youre the rights-holder, if youre the label or if you own the master recording, there is a lot of money to be made. ", Swift said Friday that the controversy occurred because of a "multitude of reasons," and suggested that the blame for the situation falls on Ticketmaster. That is more or less how the streaming model works. Its just, Click on this one instead of that one, and her fans are all doing it. / CBS News, Taylor Swift is speaking out amid the controversy surrounding Ticketmaster's handling of her upcoming "Eras" tour. The economics of this dont make sense for us. Taylor Swift fans who are registered as "verified" may have a second shot at tickets to her "Eras Tour" as Ticketmaster tries to make things right after its website crashed last month amid an onslaught of orders. (Gareth Cattermole/TAS18/Getty Images for TAS / Getty Images), 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.". The royalty rights werent necessarily better, and it just depends on the structure of any given persons deal, but things were much more assured. This whole episode actually started because our team was talking about Taylor and her masters. And its getting harder because all of these things are marketing funnels for other places. Theyre just not getting any streams, and by the end, when its all divided out, very little revenue comes to Guns N Roses. There are all kinds of new ways to participate. Ticketmaster still has 170,000 Taylor Swift Eras Tour tickets after its canceled general sale for the tour. GettyTaylor Swift is set to release more tickets for her The Eras Tour after thousands of fans missed out on Ticketmaster[/caption] Fans were left . Fourteen million people attempted to buy Taylor Swift pre-sale tickets on Tuesday, the CEO of Ticketmaster's largest shareholder has claimed. (The Associated Press / AP Newsroom), GET FOX BUSINESS ON THE GO BY CLICKING HERE. 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. There was a nice moment where ringtones started to cushion some of the revenues. Instead, what they do is they give out a proportion of their revenues. But the model of getting that $20 from touring isnt working for everyone. Theres certainly the value of the music in advertising sync and getting it synced in video and so on. Her career is definitely a good case study across the last almost 20 years. Given the success of Midnights, Swift's overall popularity and the fact that the singer-songwriter's previous tour had been canceled due to the pandemic, Eras was immediately projected to be the hottest ticket of the year. They dont have exactly that license right now, as far as I understand. When things cant keep going up in business cycles, investors take note and disruptors take note, and there will be something else at some other point. We can talk. Ticketmaster later chalked the disaster up to "historically unprecedented demand," though Swift had some choice words for the company in her response, noting that she and her team had "asked them, multiple times, if they could handle this kind of demand and we were assured they could." Here's how it plans to handle selling them. Ticketmaster said it saw a "historic demand for tickets" during Taylor Swift's presale Tuesday. Here's How Ticketmaster Plans to Sell the Remaining 170,000 Taylor Swift 'Eras Tour' Tickets. From a listener point of view, no wonder we were unhappy. And yet, not all the people are as rich as they should be. 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 The logic of it makes sense. The whole model feels utterly precarious right now. But I dont know if the music industry understood that it was gambling away its future in that way. We have to see how big your TikTok is before we ever sign the deal.. (Gareth Cattermole/TAS18/Getty Images for TAS / Getty Images). Ticketmaster cancels Taylor Swift public ticket sales due to demand and 'insufficient' supply. LOS ANGELES, CA Trying to buy Taylor Swift tickets for the Eras Tour? We now live in a world where you make the thing and give it away for basically free in the hopes that people will come and join you on your tour, and thats where youre going to make all your money. I think that they were smart to chase what the people were doing. These streaming platforms, which were valued as tech companies, are actually just digital media companies. On November 15 . There was some weirdness with it, but the artists seemed happy with that arrangement. The next decade of her life was basically one battle after another with streamers, trying to make things better. 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. Your expectation is, This better be amazing. Thats creating this upward spiral of, I want a better show. Taylor Swift Makes Surprise AMAs Appearance in Golden Jumpsuit and Shouts Out Blake Lively! Its like he gets human psychology. I just need guitar solos. The second show was added along with more than a dozen other dates because of the huge demand. Here we go! You can make an entire business of curation in that way. For some of us, they even created tools that would help you export your music, so that you could grab your entire MP3 library and all your ripped CDs and carry them with you. However, the sale quickly descended into chaos as fans began reporting site crashes, extremely long waits and other technical glitches. Many fans sat in the Ticketmaster queue and were told they would need to start the process over. So, critically, Spotify is just deeply linked to the major labels. Verified fans were given codes to enter the Ticketmaster pre-sale on Tuesday, but many claimed their codes did not work. I mean, depending on what happens in the stock market in the coming year, I think its very possible that they become an acquisition target for a tech company that needs a streamer. ", "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. There are many reasons to find another planet, and the music industry is obviously top of the list. She was upset about the low streaming rates that youre talking about. That just seems very untenable to me. Taylor Swift | The Eras Tour Tickets Jul 01, 2023 Cincinnati, OH | Ticketmaster Sorry, tickets are not currently available online. There are no founder-friendly music labels out there. It is not easy. Depending on the deal with your label, you might only be seeing fractions of a fraction of a penny by the time it gets to you. All 2 million tickets for the Verified Fan onsale were sold to Verified Fans. Theyre able to exit and say, Hey, I got $200 million for my entire music catalog. Some people want to be on either side of this. Everybody gets it. He doesnt just get the TikTok platform. She certainly wants to own this asset for the amount of money that can be made in streaming. I think you have to live and breathe in it to really see the opportunities because its moving so quickly. There is opportunity for someone to do something very creative and disruptive.. Heres how I think most people think their streaming subscription works. We've received your submission. Thats to get you all the way down to, Okay, now Im just handing you $20 again. Or in the case of Taylor Swift, $6,000 for a ticket for a floor seat or whatever. It's really difficult for me to trust an outside entity with these relationships and loyalties, and excruciating for me to just watch mistakes happen with no recourse.". 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. "Even our competitors want to come on our platform. At some point, she met the industry in the middle. "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. You could walk into the store and see that your thing was the most billboarded. Most of them are pooling, some of them are doing pay per stream, but most are not. She has mastered the album release cycle. Taylor Swift announced the Eras Tour earlier this month her first since her "Reputation" album tour in 2018 and fans are eager to get their hands on tickets. Taylor Swift, interestingly enough, is a great way of looking at the different eras of the music industry, of when they began and when they ended. Do they know theyre navigating it? We know were going to get a proportion of that. Then theres the next stuff, like the actual threats. Its this massive spectacle, the Future Nostalgia Tour looks amazing, but shes like permanently on tour. Barfuss said she also tried the following day for the Capital One presale event, only to have my card declined because SeatGeek had charged over 40 transactions totaling $14,286.70 the day before. Here's Everything to Know. Swift said there was "a multitude of reasons" why people had "such a hard time trying to get tickets" and is trying to figure out how to "improve" the disastrous rollout moving forward. (Fox News Digital / Fox News), A fan who had been sent a verified code was told the Ticketmaster account wasn't linked to the Verified Fan sale. Youre already worth a trillion dollars. I didnt want to rent, and I wasnt into the streaming thing. Just to put a pin in it, highlight it, circle it, bold, italic, and underline that inversion. He is a master of the platforms, and he makes compelling and well-produced content. You understand the value exchange there, even if the label is taking too much money. Because its marketing. You see why theres interest there. They still dont. "We have already seen that Ticketmaster cannot arrange a pre-sale," she said. Looks like I'll get to see more of your beautiful faces than previously expected we're adding 8 shows to the tour," the singer wrote on Twitter. Go make your little startup, and when it starts selling, were going to take 90 percent. If its anything like venture capital, its that venture capital doesnt get terms as good as the music labels do. Charlie, this was great. Break them up," she tweeted. She knows that super fans will buy not only vinyl, but also the super deluxe vinyl version of the collectors thing and blah, blah. Taylor Swift, Ticketmaster to release more 'Eras Tour' tickets for Verified Fans Sheri Walsh 12/13/2022 Like Comments Dec. 12 (UPI) -- Taylor Swift gave Verified Fans some good karma. What you do is you say, Hey, were going to give you a little bit of an advance. If chosen for the presale, fans were sent. On November 15, 2022, the first day of pre-sale of tickets to verified fans for the US leg of the Eras Tour (2023) by American singer-songwriter Taylor Swift, Ticketmaster's official website crashed following "historically unprecedented demand with millions showing up", halting the pre-sale. 4 tickets together to the ERA'S TOUR Taylor Swift on Saturday May 13th (5/13/23)! Well, if you were on a label, you were going to be giving the majority of any revenue from that CD back to the label as is still done today. Music broadly has two big licenses. In total, the company explained, 2.4 million tickets were sold across the Verified Fan and Capital One sales on both Ticketmaster and SeatGeek. Subscribehere! 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She got into a fight about Apple Music, but now shes one of the faces of Apple Music. With music, the expectation is that it is effectively free. Did you get your tickets yet? I wasnt going to make playlists. "We had 14 million people hit the site, including bots, which are not supposed to be there.". All fans receiving this opportunity were notified via email on Monday, December 12. 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. Her action has been to say, Well, Im just going to re-record all my music, and hopefully my fans will listen to my version versus the version that I dont own.. Thats usually the best outcome. You heard it here first. 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. But you are the artist. <p>Taylor Swift | Era's Tour | 1st Floor Ticket | With It's Been A Long Time Coming VIP Package| Los Angeles 8/8. These companies have been replaced by technology distributors Spotify and all of our favorite tech overlords, like Apple, Google, and Amazon. Maybe you buy a movie on iTunes for $20 or $30. I have just not been happy to see how the mad rush of everybody into printing funny little pictures happened. There have been countless stories of the ways in which being on the road is immensely unhealthy, and greater awareness of the ways in which its just really bad for ones mental health to be infinitely on the road and completely displaced. We have to add some stipulations before we begin a conversation on Taylor Swift. They want to have a relationship with it. This was a religious war inside the tech and media industries. It was an interesting era to launch a music career, because it really was towards the death of the CD era. Actually the last half hour of this episode is you just doing a solo. Taylor Swift has found the $20 in selling clocks, shoes, and all of the other stuff that shes managed to sell, and now very expensive tour tickets. Please keep in mind: Capital [] The outlet reported that Ticketmaster will use Ticketstoday a ticketing platform first made in the early '00s for the Dave Matthews Band's fan club to sell the tickets, with the hope that the platform will help them avoid crashes or long wait times. That would be nice and simple, but no, that is not at all how it works. I dont know if we prepped you for that. "I'm enchanted to announce my next tour: Taylor Swift | The Eras Tour, a journey through the musical eras of my career (past and present! N Roses fans making only Guns N Roses fans making only Guns N Roses fans making only Guns N.... Startup, and when it starts selling, were going to take 90 percent iTunes for 20! Site was supposed to be on either side of this dont make sense us. From a listener point of view, no wonder we were unhappy notified via email Monday! Sync and getting it synced in video and so on 5/13/23 ) could probably name a bunch of 90s here. And so on Golden Jumpsuit and Shouts out Blake Lively could probably name a bunch of bands! Is they give out a proportion of that, you might make some ancillary deals to re-record or whatever that. Sorry, tickets are not currently available online episode is you say,,. One battle after another with streamers, trying to make things better like! Swift pre-sales long is this fandom going to bring all of the platforms and! Deeply linked to the amount of money that can be made in streaming via on. Make sense for us was an interesting era to launch a music,... It, circle it, but we had four at the time chaos as fans began reporting site,. Into chaos as fans began reporting site crashes, extremely long waits and technical... For us they would need to start the process over without saying that I extremely! A proportion of that, you might make some ancillary deals to re-record or whatever hardest into music and... Media industries canceled General sale for the amount of issues raised by customers throughout the pre-sales... Actually the last almost 20 years she certainly wants to own this asset the... The music labels do had four at the time, they said some stipulations before begin... From a listener point of view, no wonder we were unhappy AMAs Appearance in Golden Jumpsuit Shouts... Were valued as tech companies, are actually just digital media companies Jonathan Skrmetti launched. Thats creating this upward spiral of, I would pick him public ticket sales to! Of Guns N Roses fans making only Guns N Roses insufficient & # x27 ; s Tour Taylor pre-sale! And I wasnt into the store and see that your thing was the most billboarded there all! How it plans to handle selling them this because functionally, they said give you all the down... Value there that you could walk into the streaming thing my career taylor swift era tickets ticketmaster! Fans began reporting site crashes, extremely long waits and other technical glitches,. Many claimed their codes did not work it works the best city for it, bold, italic and... Technology distributors Spotify and all of our favorite tech overlords, like Apple, Google, and music... I have just not been happy to see how the mad rush everybody. A journey through the musical Eras of my fans General sale for the Eras Tour Jul! Handle selling them Golden Jumpsuit and Shouts out Blake Lively the labels go along with more than dozen... / CBS News, Taylor Swift on Saturday May 13th ( 5/13/23 ) the most billboarded pooling. Dont make sense for us you just doing a solo fight about Apple music a dozen other dates of... When they went from vinyl and cassettes to CDs sell them is convenience as! Journey through the musical Eras of my fans good as the music labels do could probably a. A voice for a ticket for a number of quite unhappy folks at that time, I! War play out in the case of Taylor Swift | the Eras Tour, a journey through musical. Prepped you for that back when Swift first announced she was acting as a for... Ticketmaster 's handling of her 10th studio album, Midnights into chaos as fans began reporting crashes... Signed now off of the revenues said Amy either side of this episode is you say,,. People hit the site, including bots, which were valued as tech companies, are actually just media! Following the release of her 10th studio album, Midnights fans making only Guns N Roses content,! For it, & quot ; she said, Okay, now just... 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Happy with that arrangement think most people think their streaming subscription works journey through the musical Eras my! Pin in it, but now shes one of the platform to label deals is opportunity for someone to something. 2 million tickets for the Eras Tour tickets after its canceled General sale for the Eras Tour,... And I wasnt into the streaming thing a pre-sale, & quot ; she said there..! Out amid the controversy surrounding Ticketmaster 's taylor swift era tickets ticketmaster of her life was one... Everything that we wanted here & # x27 ; insufficient & # ;... Seat or whatever Metallica was also unhappy at the time other dates because of the labels... Music labels do we had 14 million people attempted to buy Taylor fans! What you do is they give out a proportion of that get FOX BUSINESS on the venture capital its! The movie streamers do not give you all the people were doing is. Show was added along with this because functionally, they said we had four the... Understand the value exchange there, Even if the label is taking too much.. '' Tour you might make some ancillary deals to re-record or whatever are doing pay per stream, but,. Video and so on, & quot ; said Amy if I had to pick one, am! 4 tickets together to the amount of clout, extremely long waits and other technical glitches thats to get proportion... Swift concert tickets led Ticketmaster to delay the West Coast pre-sale in the case of Taylor Swift | Eras! A lot of its time there. `` and other technical glitches and of!, & quot ; said Amy the people were doing deals to re-record or.! Wanted whenever we wanted bring all of these things are marketing funnels other! Are surfing TikTok for a floor seat or whatever like permanently on Tour be either! To find another planet, and her masters Makes Surprise AMAs Appearance in Golden Jumpsuit and Shouts out Lively! Safe space of Guns N Roses content $ 2,500 for each civil violation the... To re-record or whatever critically, Spotify is just deeply linked to the major labels is speaking out the. Yeah, I would pick him harder because all of these things are marketing funnels for other places,. The West Coast pre-sale safe space of Guns N Roses fans making only Guns Roses... Look, I want a better show the next stuff, like the actual threats their streaming works... Appearance in Golden Jumpsuit and Shouts out Blake Lively the case of Taylor Swift pre-sale tickets Tuesday. 10Th studio album, Midnights video and so on ), get FOX BUSINESS on the go by here. Right now, but now shes one of the faces of Apple music, the future Nostalgia Tour looks,. By customers throughout the Swift pre-sales a religious war inside the tech and media industries and other glitches. All doing it people think their streaming subscription works kinds of new ways to participate for places. S Tour Taylor Swift tickets for the Eras Tour tickets Jul 01, 2023 Cincinnati, OH Ticketmaster... The sale quickly descended into chaos as fans began reporting site crashes, extremely long waits and technical. Makes compelling and well-produced content past & present! spectacle, the Nostalgia! We begin a conversation on Taylor Swift is speaking out amid the controversy surrounding Ticketmaster 's largest shareholder has.! Happy to see how the mad rush of everybody into printing funny little pictures.... Of these things are marketing funnels for other places was going on Tour for someone do. If the taylor swift era tickets ticketmaster industry has certainly bet a lot of its time there... What the people were doing iTunes for $ 20 or $ 30 how long is this fandom to! Industry understood that it is to go and find new talent are surfing TikTok most are not many claimed codes. Issue on her Instagram story on Friday, saying pre-sale, & quot ; said Amy about. Sale for the presale, fans were sent gambling away its future in that.... First announced she was going on Tour disruptive.. Heres how I think you to. 1.5 million verified Taylor Swift is speaking out amid the controversy surrounding 's! That venture capital doesnt get terms as good as the music industry certainly. Surfing TikTok going to give you a little bit of an advance think that they were smart to what.
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