One is the sound recording, called the master, which Taylor wants to own. As an old-school punk rock guy, there is a part of me that deeply vibes with his ability to be subversive, and it transcends the fact that he broke out on TikTok. It actually does create an opportunity where there are small collectibles that anybody can participate in. If you got 15 songs, well, thats a lot more than the nine-song record. Now theres much more. Shes currently re-releasing all of her old albums. All those folks who had secured really great deals and contracts, and who were making lots of money, were very upset by the piracy that started to take place around 2000. I think its important to say that. Additionally, less than 5% of tickets had been sold or posted on the secondary market. What was the structure of the industry in the 2000s? The tour is set to kick off in Arizona in March and wrap up in Los Angeles in August. Santigold, Shawn Mendes, Animal Collective, theyre all complaining like, This is too much. 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. It seems as though Ticketmaster should've known that arguably the . Well, the most important thing was Spotify getting the buy-in from the entire industry. Then you just have to hope that people are going to show up. The ticket-selling. So yes, there are other breakout stars, and there are more and more of them every single day. That to me seems like the most opaque part of this entire thing. Thats Decoder everybody. That is not at all how it works. 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. I cover pop, but I also love to shred on the guitar. I have this theory that music is usually about five years ahead of the rest of media in terms of its relationship to tech whether thats new formats based on new tech, like vinyl to CDs, new business models like streaming, or simply being disrupted by new kinds of artists who use new forms of promotion, like TikTok, in unexpected ways. I was one of those listeners. Is she following the standard playbook or is she evolving? A lot of her early records were released on CD, but by Red, there was a lot of pressure to put things on streaming. But the labels, they navigate it. / CBS News, Taylor Swift is speaking out amid the controversy surrounding Ticketmaster's handling of her upcoming "Eras" tour. Its very challenging to be able to make a living without streaming hundreds of thousands of songs. Willing to separate in pairs of 2 for $1350 each pair! >Selling to be able to purchase for a different date as my dad has his doctoral graduation that day . Ish? 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.. The question is, do we keep listening in this way? 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. There was maybe a simplicity, a clarity, to how the business worked. He doesnt just get the TikTok platform. The tour, which will be a "journey through the musical eras" of Swift's career, is set to kick off next March in Arizona. Most of them are pooling, some of them are doing pay per stream, but most are not. She withheld her new releases from Spotify, but now her new releases are on Spotify. You understand the value exchange there, even if the label is taking too much money. 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. 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. I have to say, Im not following it too closely because its such a complex ecosystem. They want to buy their music. Ticketmaster has canceled the public sale of Taylor Swift's "The Eras Tour" after high demand in the pre-sales. Since it cannot sell music in that one-to-one transaction, it is forever on the hunt for the $20. A bunch of Tower Records managers got to go to parties, so they would put your CDs at the front of the store instead of the back. Its like, Thats what I call music. Ticketmaster Will Sell 170,000 Remaining Tickets to Taylor Swift's Eras Tour Over Next Four Weeks, Taylor Swift Fans Planning to Sue Ticketmaster After Eras Tour Ticketing Controversy: Report, Ticketmaster Apologizes to Taylor Swift Fans, Blames Issues on 'Bot Attacks' and Record Traffic, Ticketmaster Cancels Taylor Swift Eras Tour General Ticket Sale After 'Extraordinarily High Demands', Taylor Swift Says It 'Pisses' Her Off That Fans 'Had Such a Hard Time' Purchasing Eras Tour Tickets, Taylor Swift Adds 8 New Dates to Her Eras Tour: 'I'll Get to See More of Your Beautiful Faces', Taylor Swift Announces Dates for 'Eras' Tour: 'A Journey Through the Musical Eras of My Career', Joe Jonas Jokes He'll 'Get in Line' for Taylor Swift Tickets to Surprise Wife Sophie Turner. That is true. Where is Xbox Music? 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. I want to talk about that conversion funnel real quick. Ticketmaster cancels general public sale of Taylor Swift tour tickets. 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. Search. I think every artist has always thought that their label takes too much money. The ticket-selling site paused the Central Standard Time queues, delayed the West Coast times and pushed the Capital One presale to Wednesday to accommodate the demand. Were looking at Taylor Swift and using her career to chart us through this era. 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. 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! Now heres the thing. Its hard to think of another artist at this point that actually monetizes music itself as the primary and richest revenue stream. "We strive to make ticket buying as easy as possible for fans, but that hasn't been the case for many people trying to buy tickets for Taylor Swift | The Eras Tour," Ticketmaster began in the statement. The tour, which will be a "journey through the musical eras" of Swift's career, is set to kick off next March in Arizona. Everyone was putting their albums on streaming, and people were having a great time exploring Spotify. 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. Taylor Swift will release additional tickets for The Eras Tour, one month on from the Ticketmaster sales debacle which crashed the site and saw thousands of fans miss out. <p>Taylor Swift | Era's Tour | 1st Floor Ticket | With It's Been A Long Time Coming VIP Package| Los Angeles 8/8. Theyre making a really big gamble about their future. Part of what youre saying, Nilay, is that music is more valuable than it has ever been. 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." Spotify has to make it on its own. Politicians even got involved, with House Rep. Alexandria Ocasio-Cortez tweeting that Ticketmaster has become a "monopoly" after its merger with Live Nation and that "they need to be reigned in.". Theyre just like, I dont understand, big tech company. If we think that the payout structure of streaming is convoluted, then I especially dont understand the fan model of the digital imagery side of NFTs that was so wildly promoted for many months until the great crash. Taylor Swift released her first album in 2006. Everyone is mad at Ticketmaster, and like, Dua Lipa needs to go home. This whole episode actually started because our team was talking about Taylor and her masters. But because of the structure of the industry, that relationship has all but disintegrated. Yes, in the early 2010s, artists like Adele and Coldplay were also saying, Hey, were not down with this. Potential ticket buyers shared their frustrations on social media, comparing their experience to The Hunger Games and calling on Ticketmaster and Swift to address the debacle. ", The singer added that she was investigating why the situation unfolded the way it did and how it could be improved in the future. All About Anna Olson, performers who will be joining her onstage. I wasnt going to buy the nine-song record because CDs at my local Best Buy were very expensive. 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. I mean, you cant take that away. But I dont know if the music industry understood that it was gambling away its future in that way. It gets harder and harder to eke more dollars out of the rest of the globe. That dynamic, where you expect more but pay less and the artists are openly struggling, is the most unusual thing about music to me. Presale codes were then sent out to 1.5 million potential ticket buyers, while the remaining 2 million people were put on a waitlist. The expectation from the fans now is that youre going to mount a spectacle. "We had 14 million people hit the site including bots, another story, which are not supposed to be there and despite all the challenges and the breakdowns, we did sell over 2 million tickets that day.". "We have already seen that Ticketmaster cannot arrange a pre-sale," she said. She said she's "trying to figure out how the situation can be improved moving forward. Those fans arent going to stick around forever. Thats very dark. But yes, you were promoting the thing that you could sell. No tickets and a card I cant use.. 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Do they know that their business is out the window? So Spotify launches in Europe, and what they sell you is convenience. 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. Well, yeah. That helped persuade me eventually, but most of us were just trying to listen to everything that we wanted whenever we wanted. I want it to look grander. So ticket prices are going up, and so more people want to get out on the road and capture more of those ticket prices. Taylor Swifts dispute over her masters in 2019 and 2020, is another attempt for her to wrestle back control over her music, and get more money for it. 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. 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. Queues for the West Coast tours in Los Angeles, Las Vegas, Santa Clara, and Seattle will open at 2:30 p.m., Ticketmaster reported over Twitter. 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. TAYLOR Swift is set to release more tickets for her The Eras Tour after thousands of fans missed out on Ticketmaster. There are just endless ways in which people have gotten the short end of the stick here, and she wants to have the biggest stick in the game and own as much of her music legacy as she possibly can. She has mastered the album release cycle. Charlie, this was great. Listeners, on the other hand, were very pleased because they got everything all the time. Lets talk about the last $20 that the industry thinks it might be asking for. Its like he gets human psychology. The series of concerts is . Its just like, Youre going to have to deal with it.. We have three big labels now, but we had four at the time. They are certainly desperate and in need of something at this point. Its beautifully made music, and I understand that they were all dating each other and you can just hear the pain, but I find it tedious and boring. What Im getting at is that the marketing funnel is really hard. 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. Burn. in commercials. We no longer have our Virgin Megastores selling all of our CDs to us, or Tower Records. I think thats the thing that leads to lasting impact. 2023 CBS Broadcasting Inc. All Rights Reserved. Ticketmaster no longer wants to be the "Anti-Hero" to Taylor Swift fans. Okay. On Nov. 18, Swift spoke out about the fiasco in a message to her fans via her Instagram Story. (The Associated Press / AP Newsroom), GET FOX BUSINESS ON THE GO BY CLICKING HERE. 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. TikTok is profound, and it has very meaningfully shifted what is happening in music. Ticketmaster canceled last months general public sale of Swift tour tickets after seeing historically unprecedented demand at its presale events. "It obviously wasn't meant to be if we didn't get tickets but we're upset. 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. Spotify then launched in the United States in 2011. I love having you on the show. Taylor Swift's 10th studio album, "Midnights," was released on Oct. 21. You heard it here first. Now its listens over time. They dont have exactly that license right now, as far as I understand. That just seems very untenable to me. So the basic math of going on tour doesnt make sense not only because of all of those macro indicators, but also because there are more artists than ever that want to go on tour. The industry is very mad at Apple for this, but the iPods ascendancy is there. How much of that money went to her as the artist, in general? 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. We know were going to get a proportion of that. I didnt want to rent, and I wasnt into the streaming thing. The next thing, or at least the promise of the next thing from some very motivated members of the industry, is crypto shit. Did it seem like the future? Subscribe; . It was hard to get national or global distribution without a label. Thats really interesting to me, because the thesis of this conversation is that we have had 20 years of streaming and this model seems like its teetering. I recognize Im a dinosaur and thats fine. Taylor Swift fans are ushering in a new era for Ticketmaster. That is going to be very, very lucrative for her. You get the entire catalog of recorded music, in a way that Netflix doesnt have everything or HBO doesnt have everything. Bad record contract or not, you still spent $20 and the artist and their label can now fight over how much of that $20 they get. Its very possible that someone might need this company because with music, to your point, you cant bet against the internet. 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. They just had to figure out how to monetize it. Its this massive spectacle, the Future Nostalgia Tour looks amazing, but shes like permanently on tour. We can probably model some churn based on if theyre listening to great music from the 50s or 60s. In terms of it being a threat, though, I think its more a new pathway to potentially create stars. Talk to us about the CD era. Everyone knew getting tickets for Taylor Swift's The Eras Tour was going . All of that was promotion for you to go spend $12 or $13 on a CD, or 99 cents on a song in the iTunes store. You said at the beginning here that streaming feels like its on the rocks. Its part of the great scheme. Shes a great musician, shes also just very good at making money. Please enter valid email address to continue. 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