Apple Music is going to be fine because the iPhone is fine, right? Its not that the music is worth nothing, its that most people are being compensated very poorly and have a barrage of bad contracts that they have not had any say in, whether those are the contracts that were signed between the majors and the streamers or the contract that they signed with their label. (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. How did Spotify do at that moment? In 2014, she removed her entire back catalog of music from Spotify. There is only so far you can go with user growth in countries that have lower base income and where people have more sensitivity to price fluctuations. We have seen the massive devaluation of Netflix. 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. 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. Its really hard to change behavior. The site was supposed to open up for 1.5 million verified Taylor Swift fans," Maffei said. Everyone was putting their albums on streaming, and people were having a great time exploring Spotify. 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. Theyre not a music company anymore. At last, some good news for Swifties came on Dec. 12, when select fans received emails notifying them that they would get a second chance to purchase Eras tickets. . At some point, she should go see her family. ", 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. Following widespread issues with the sale of tickets to her upcoming Eras Tour, the singer wrote that she hopes "to provide more opportunities for us to all get together and sing these songs." On. I dont know. However, Maffei defended the Live Nation and Ticketmaster merger. "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. 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. High demand for Taylor Swift concert tickets led Ticketmaster to delay the West Coast pre-sale. Taylor Swift released her first album in 2006. . Update 11/16/22 Taylor Swift Eras Tour Capital One Cardholder Presale Wednesday, November 16 | 2 p.m. local venue time To best access the Taylor Swift Eras Tour Capital One Cardholder Presale ticket queues, fans should log into their Ticketmaster account and click on the link for your preferred dates below. If you want to listen to the most popular songs from the 30s and 40s something that I have to do in my job oftentimes the only place to find them is from vinyl collectors who are on YouTube, to your point, and have uploaded themselves playing the vinyl. And yet, not all the people are as rich as they should be. And that is true; I am on guitar solo TikTok. Thank you so much. People use these platforms to hopefully up-level off of those platforms into places where they can secure more acclaim, revenue, et cetera. It might be undervalued financially, but in terms of value as humans, it is so essential to us. 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. 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. 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. In total, the company explained, 2.4 million tickets were sold across the Verified Fan and Capital One sales on both Ticketmaster and SeatGeek. Its all the best stuff. 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Its a little late in this episode. "Thank you for wanting to be there," she said. I could probably name a bunch of 90s bands here, but I think were already at risk with the Taylor Swift fans. It's been a long time coming .". She was very hesitant to participate in the new digital era, calling out the ways in which it was set up to exploit artists. Ill bring this back to Taylor Swift, because she did live through these eras. I wanted all of my music that Ive ever had. It gets proven out in Europe over time. In terms of it being a threat, though, I think its more a new pathway to potentially create stars. You want to own the most amount of that master recording as you possibly can. 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. "It's 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.". 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. There is a sense that, Okay, if I cant go on tour forever, I can still find something to sell digitally for $20 that might be worth money and the secondary sales might return royalties to me. Theres a lot of promise there. Search. (Fox News Digital / Fox News), Many fans sat in the Ticketmaster queue and were told they would need to start the process over. The labels go along with this because functionally, they have no choice. Theres publishing and this, et cetera Its the exact same sigh when people have to explain NFT copyright. That just seems very untenable to me. But you are the artist. Taylor Swift on Friday responded to fan frustration over the botched presale for her upcoming "The Eras" tour which led to Ticketmaster's decision to cancel the public sale of tickets. In the case of touring, there are way more artists than ever that want to tour at the moment because they had to hold back during COVID-19. We definitely live in an era where the actual product is so devalued that all the people that make it are in a state of precarity. Its too hard and theres no guarantee of return. That seems like that conversion funnel works for the artists it works for, but then for everyone else its too expensive to even make the thing that is worth asking for the money for. The economics of this dont make sense for us. The era of the unknown, unsigned person who has not been on social media being discovered by a major label is over, unless youre a famous person or nepo baby. 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. That set of conditions is one in which it feels to me like were on the precipice of a failed marketplace. The saga started back when Swift first announced she was going on tour following the release of her 10th studio album, Midnights. 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. (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 vast majority of Spotifys revenue goes to rights-holders, and yes, rights-holders are a stand-in mostly for labels. It didnt work for everybody, but for the biggest artists, it worked really well. 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. Vinyl is a small but meaningfully growing share of the music revenue pie.. I hate that word, but lets just say it. TikTok isnt like, Hey, heres the link to a page to be able to easily go and check out all this other stuff. Its not going to do that until it has to. Its like he gets human psychology. But yes, you were promoting the thing that you could sell. The big difference is that the whole industry was a physical goods business; as you said, people were buying CDs in stores. Like everybody else, she has all those things, but she leans the hardest into music. 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. 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. It wasnt at its lowest, but it was dropping quickly. Thats all flipped now. Were looking at Taylor Swift and using her career to chart us through this era. 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. Taylor Swift is speaking out amid the controversy surrounding Ticketmaster's handling of her upcoming "Eras" tour. Then when they ran out of countries, their growth stopped. 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.". "We will sometime soonish. Everyone knew getting tickets for Taylor Swift's The Eras Tour was going . 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. "Even our competitors want to come on our platform. Shawn Mendes was a Vine star. 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. 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