However, the sale quickly descended into chaos as fans began reporting site crashes, extremely long waits and other technical glitches. The vast majority of Spotifys revenue goes to rights-holders, and yes, rights-holders are a stand-in mostly for labels. When there is no competition to incentivize better services and fair prices, we all suffer the consequences.". This doesnt make any sense.. The singer commented on the issue on her Instagram story on Friday, saying that . We dont need a bunch of 90s alternative band stans coming after us, but you could throw a dart at your average radio smash 90s act and their album would be full of a bunch of filler. Theyre not a music company anymore. In the CD era, you wanted to buy a greatest hits record because it was all killer, no filler, right? The queue for those tickets, initially reserved for both Taylor . I mean, well find out. Ish? Your Spotify or Apple Music monthly fee is cheaper than Netflix, HBO Max, or whatever else, and you get more. Do they know theyre navigating it? The Ticketmaster site was not prepared for the volume of Taylor Swift fans logging on for Tuesday's verified fan presale. 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. The queue for those tickets, initially reserved for both Taylor Swifts verified fan base and Capitol One membersboth with pre-registration codescrashed Ticketmaster shortly before the on-sale time. Did it seem like the future? 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. Thats going to happen. There is some concern that people are only listening to music on TikTok, and that they need to listen to the really fast, sped-up version instead of the real one which is a major trend we have reported about on Switched on Pop, because that is their engagement with music. Its often like the Marvel Cinematic Universe. If you got 15 songs, well, thats a lot more than the nine-song record. We kind of know what they are. She has certainly raised awareness, but yeah, all of her music is on the streaming platforms. I mean, we are putting that in the metaverse right away. "Even when a high demand onsale goes flawlessly from a tech perspective, many fans are left empty handed. Nov 18 2022 by Eden Arielle Gordon. You still have the music on streaming, but she also has a tour that everybody is dying to see. That whole thing doesnt make sense. "Its a function of Taylor Swift. 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 . Its like he gets human psychology. I was joking when we were doing our prep for the show that I have been trying to escape Fleetwood Mac since I was a teenager, and they just wont go away. At the request of Swift's team, the ticket seller said on Monday that . When you visit this site, it may store or retrieve information on your browser, mostly in the form of cookies. Now theres much more. I want to sell my TS Eras tickets here on stubhub. The tour, which will be a "journey through the musical eras" of Swift's career, is set to kick off next March in Arizona. Taylor Swift fans sue . If you contributed to an album, then you were paid out for someone buying the whole thing, even if you only contributed one song to it. So the person who took that bad record deal in the past, who does have the right to the songwriting, can re-record it and make more money off that record. From a listener point of view, no wonder we were unhappy. Its like, Thats what I call music. The singer commented on the issue on her Instagram story on Friday, saying that . Then when they ran out of countries, their growth stopped. What was the structure of the industry in the 2000s? Its part of the great scheme. Lisa Marie Presley's net worth: Losses, lawsuits and Graceland, Marie Osmond says her kids won't get an inheritance, Former "American Idol" contestant C.J. There was some weirdness with it, but the artists seemed happy with that arrangement. 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. 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. 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. That is going to be very, very lucrative for her. Its really easy to say to listeners, Hey, this thing doesnt make any sense, but that is the business model that we have all bought into, whether or not were conscious of it. If you are doing well later in your career, you might say to the label, Hey, before I renegotiate a deal with you, I would like to own my masters not only of my current catalog, but also my back catalog, because all my fans still listen to all of that music. Many artists will do this, renegotiate their deals, get better rights, and so on. I think there are many places in the whole music industry, in all aspects of it, that are struggling. The company noted that although they only gave out 1.5 million presale codes, the site was overwhelmed on the day of the sale due to fans who showed up without a code and a "staggering number of bot attacks.". If music was working, you could keep leaning harder into it, but its not the future of that business. 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 mean, it puts us a bit more into the world and conversation of content creators. Currently, in Ticketmaster, they are showing as transferrable. Let us know when you do in comments. She knows that super fans will buy not only vinyl, but also the super deluxe vinyl version of the collectors thing and blah, blah. 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. They cant control their costs. All rights reserved. I love having you on the show. Right, because Ticketmaster is owned by Live Nation, which owns all the venues, and that is all part of the same company that owns SiriusXM, which promotes the things on the radio. 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. If I had to pick one, I would pick him. In 2014 to 2017, this was kind of the height of Taylors fight with the streamers. Spotify then launched in the United States in 2011. Its both, because she is putting out vinyl. If the songs are just marketing for tour tickets, then you should put the songs everywhere you can all the time. The company later said that over 3.5 million users pre-registered for the sale, making it the largest registration in Ticketmaster history. Now theyre an audio company. "It obviously wasn't meant to be if we didn't get tickets but we're upset. To get the $20 at the end, we have to front too much money. They have been growing and they are listening in this way. Not just because of this holdup, but because they realize that this is the place where they are going to monetize. Several pre-sales events are planned ahead of Madonna's holiday tour before the public sale begins, which Becker considers a bad sign. I was a verified fan. 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. 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. Tickets, $40-$146, Seat Geek. It seems like every tech company has tried to do that in the last three years, and it doesnt seem like people are pouring in to do lots and lots of live audio. (Matt Winkelmeyer/TAS18/Getty Images for TAS / Getty Images). Thats where we should come to now. TAYLOR Swift is set to release more tickets for her The Eras Tour after thousands of fans missed out on Ticketmaster. 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 marketplace of music is strange, in that the consumers are pretty happy, the distributors are doing great, and the suppliers are extremely unhappy in general. "We apologized for the difficulties you may have experienced, and have been asked by Taylor's team to create this additional opportunity for you to purchase tickets.". I mean, it is important to note that the entire music catalog is not available. He and his Consumer Protection team will use every available tool to ensure that no consumer protection laws were violated," his office tweeted Wednesday. Once again, probably best not to get your hopes up. That turned into a weird interstitial revenue moment for the industry. Burn. in commercials. Now its listens over time. High demand for Taylor Swift concert tickets led Ticketmaster to delay the West Coast pre-sale. Its not just which artists you listened to, its how much you listened. The Midnights singer's loyal listeners have taken the company to task after the ticket-buying process for her upcoming Eras Tour resulted in chaos. If we had a pay-per-stream model, all of a sudden Spotify would have to pay out seven times more than its used to during that winter season. And yet, not all the people are as rich as they should be. From how the chaos ensued to the response it's provoking from lawmakers, here's everything to know about the debacle surrounding Ticketmaster and Taylor Swift's Eras Tour. I have always found those models to be a bit optimistic, because most other countries do not look like the GDP of the United States, where many of these tech companies get founded though obviously Spotify was founded in Sweden. . 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. Market data provided byFactset. The second show was added along with more than a dozen other dates because of the huge demand. "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. "Even our competitors want to come on our platform. I wasnt going to buy the nine-song record because CDs at my local Best Buy were very expensive. Swift had been set to perform the "Lover Fest" tour in 2020, but it was canceled due to the coronavirus pandemic. She points it at her own music and she points it obviously at this tour, which has enough demand to bring down Ticketmaster and to set off a series of antitrust investigations into whether Ticketmaster is a monopoly, which is incredible. 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. According to a Ticketmaster release, fans who received the email will receive a separate invitation where they can submit a purchase request to Ticketmaster by Dec. 23. People are always going to be upset about their contracts in music. She said, No, Im not going to put it up on Spotify., Thats a sea change moment for the industry, because until that second, streaming was this other thing that was happening. 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. 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. Its NFTs, its blockchain tokens, its whatever universe the DJs want to put together. She said she's "trying to figure out how the situation can be improved moving forward. Well, it was similar yet different in many ways. They want to own it. Right? Well, this is the thing. The most exciting thing in music is that people control more of their destiny. However, I am worried at at some point the transferrable button will be unavailable. Theres certainly the value of the music in advertising sync and getting it synced in video and so on. Eras will be Swifts first tour since 2018, in honor of her 10th studio album, Midnights, which dropped in October. Instead, what they do is they give out a proportion of their revenues. There are hundreds of people who have been signed now off of the platform to label deals. of residency or put Taylor . 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. Everyone is mad at Ticketmaster, and like, Dua Lipa needs to go home. Many fans sat in the Ticketmaster queue and were told they would need to start the process over. Does that stuff seem viable to you? I dont know. Theyre like, Great, we know that revenues are growing. She has not yet had to make that turn, but the midline artist is desperate for the next thing they can sell. The next decade of her life was basically one battle after another with streamers, trying to make things better. 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. But yeah, definitely. Whatever club banger metaverse that you think you might be in, theyre going to have you in it. Dec. 12, 2022, 1:37 PM PST. The Post reached out to Ticketmaster for comment on the lawsuit. Ticketmaster still has 170,000 Taylor Swift Eras Tour tickets after its canceled general sale for the tour. If youre Dua Lipa, a lot of people will show up, but there were lots of artists this past summer who had to cancel their tours because they couldnt make the math work. A podcast from The Verge about big ideas and other problems. There is a physical good side to the re-release and there is money to be made there, but the other side is the licensing and the intellectual property. Lets just be more explicit about that to make it really clear for people. They are certainly desperate and in need of something at this point. Its very possible that someone might need this company because with music, to your point, you cant bet against the internet. Shes currently re-releasing all of her old albums. Spotify and others pay billions of dollars to rights-holders, and she is making sure that shes a rights-holder. All presale codes and links sent via text will still work at that time, they said. Taylor puts out her first record and she wants people to listen to it, so she has to go on radio and on tour. Tennessee Attorney General Jonathan Skrmettivowed to investigate Ticketmasterafter his office was flooded with messages fromirate concert hopefuls. Thank you for wanting to be there. Taylor Swift addressed the recent controversy surrounding Ticketmaster's handling of tickets for her upcoming Eras tour. People use these platforms to hopefully up-level off of those platforms into places where they can secure more acclaim, revenue, et cetera. It fuels trends that are observed by billions of people within days. Youre already worth a trillion dollars. 2022 CBS Interactive Inc. All Rights Reserved. Do they know that their business is out the window? There are some very meaningful, projectable revenues that can be made if you own all of your recordings, so she is taking those actions. 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. Each of you listening is not going to give them that nice $5. EMI was eventually bought by Universal, so there was a lot of consolidation on the label side. Since then, Swift has released three new albums: "Folklore," "Evermore" and "Midnights. Okay. They are able to get out of there and cash out on the venture capital model. That is true. Its happening at Netflix. Where is Groove? Swifties reported website outages and hours-long waits only to log off empty-handed. For all the other people who are listening to playlists and keeping music on in the background forever, those people are potentially diluting the listening of fans who only listen really closely to one artist for an hour or two a day. I pay Spotify $15 a month. I was a collector. Thats why Im saying its way more than TikTok. A lot of her early records were released on CD, but by Red, there was a lot of pressure to put things on streaming. If and when virtual reality becomes a compelling, mainstream product for many, many people, music will certainly be at the centerpiece . Ticketmaster crashed when demand was higher than anybody behind the sales seemingly prepared for, which has resulted in a lot of frustration that fans haven't been afraid to share in the days since. / Sign up for Verge Deals to get deals on products we've tested sent to your inbox daily. ", Taylor Swift's 10th studio album, "Midnights," was released on Oct. 21. Shes not going to buy it, so shes just recreating it, and that is an age-old thing that so many different artists have done. In her case, she doesnt have any ability to do so because it is owned by a financial family fund that doesnt want to give it to her. This material may not be published, broadcast, rewritten, or redistributed. They just get put out for digital distribution. Haim Sisters Excited for 'Backstage Dance Parties' on Taylor Swift 'Eras' Tour: 'It Is Perfect', Paramore Announces Massive 26-City US Summer Arena Tour in Support of Upcoming 'This Is Why' Album, All About Taylor Swift's Eras Tour Opening Acts, A Timeline of Balenciaga's Ad Campaign Scandal, Anita Baker Announces First Full Tour Since 1995 to Celebrate 40th Anniversary of 'The Songstress', iHeartRadio's Massive 2022 Jingle Ball Tour Lineup Features Dua Lipa, Lizzo, Jack Harlow and More, Who Is Frankie Jonas' Girlfriend? 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. Section 240 Row 15 Seats 22-25 Transfer from Ticketmaster electronically upon payment : tickets are in hand. First published on November 18, 2022 / 1:42 PM. Even if a lot of people listen to our music, were not sure how much we are getting paid.. The economics of this dont make sense for us. So many people have tried to launch live audio experiences. It didnt work for everybody, but for the biggest artists, it worked really well. 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. The publishing royalties were smaller then, but you got them for every single song, whereas today, you only get publishing royalties when someone actually listens to a song. The suit also alleged that Ticketmaster provided more codes than ticket allotment and scheduled the general ticket sale "knowing they would not have the quantity necessary" to fulfill the demand. ", The singer added that she was investigating why the situation unfolded the way it did and how it could be improved in the future. 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. The expectation from the fans now is that youre going to mount a spectacle. But you are the artist. I think that middle step of, We need to print CDs, we need to promote CDs, we need to sell CDs, and we need to have a relationship with retailers in order to even have the CDs in the stores, always seemed like a big chunk of revenue that should naturally go to the artist. It grew to be the whole market. News / Jan 17, 2023 / 10:23 PM CST. The industry is very mad at Apple for this, but the iPods ascendancy is there. Is the music on streaming still just marketing for that stuff, or is that valuable to her now as well? Spotify is one of the only major music streaming platforms not owned by a big tech company, and people want them to disentangle their revenues and their costs in a way that could sink the business a business which already doesnt make money. One thing that is very funny, as I look back on covering tech for the last 10 years, is how much user growth these companies achieved just by launching in additional countries. 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 In 2014, she removed her entire back catalog of music from Spotify. There are public funds now where you can invest in music publishing. A lot of the best people in this business are able to secure the most advantageous contracts, though often very exploitative ones, and there has been no shortage of those throughout the entire history of recorded music. Here's Everything to Know. 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." Thats all flipped now. When fans eagerly showed up to try and purchase tickets on Nov. 15, however, they were met with a litany of issues on the Ticketmaster website. There are people getting better label deals than ever before because they are building their own fanbases. There are people that make middle-class livings by doing Patreon and other subscriber-based tools that kind of exist at a hybrid of music and other content. She added, "The first leg of the tour will be in stadiums across the US, with international dates to be announced as soon as we can! She certainly wants to own this asset for the amount of money that can be made in streaming. Shes in her contract negotiations with Universal, and made sure that part of Universals ownership with Spotify will eventually distribute out to artists if they were to sell it. "You were selected for this opportunity because you have been identified as a fan who received a boost during the Verified Fan presale but did not purchase tickets," it continued. 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. Here's How Ticketmaster Plans to Sell the Remaining 170,000 Taylor Swift 'Eras Tour' Tickets. Be upset about their contracts in music publishing i am worried at at some point transferrable! Entire music catalog is not available ticket-buying process for her upcoming Eras tour their own fanbases tour 2018... Of her 10th studio album, Midnights, which dropped in October for Taylor Swift is to! 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