Its just, Click on this one instead of that one, and her fans are all doing it. She said she's "trying to figure out how the situation can be improved moving forward. It was probably very difficult for an indie artist, because distribution was more challenging then. 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. I mean, we are putting that in the metaverse right away. Tennessee Attorney General Jonathan Skrmettivowed to investigate Ticketmasterafter his office was flooded with messages fromirate concert hopefuls. Instead, what they do is they give out a proportion of their revenues. It seems as though Ticketmaster should've known that arguably the . Theres publishing and this, et cetera Its the exact same sigh when people have to explain NFT copyright. The company said the cancelation was triggered by unprecedented demand, with more than 3.5 million people pre-registered to get an access code for purchasing tickets. Trouble, trouble, trouble Having trouble using Ticketmaster? Its just like, Youre going to have to deal with it.. Were done. Taylor Swift Swift fans already know that this ticketing for the Eras Tour has been a nightmare and Ticketmaster has already given up on trying to fix it. It was just three years later that streaming became the predominant revenue source for recordings. What Im getting at is that they made physical things. 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. If I had to pick one, I would pick him. Ticketmaster no longer wants to be the "Anti-Hero" to Taylor Swift fans. I also think the mathematics of the model get really weird once youre talking about share of listening on a global basis. I think that the listening might shift towards the people who are less interested in music, but, Hey, Im going to put on a chill playlist, and the chill playlist is background to help me study. I think a meaningful amount of revenue could be lost there. It grew to be the whole market. 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. It gets proven out in Europe over time. Taylor Swift released her first album in 2006. . Youre already worth a trillion dollars. 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 Pennsylvania Attorney General's Office is even getting involved, telling residents experiencing problems with the site tosubmit a complaint. I pay Spotify $15 a month. TikTok is profound, and it has very meaningfully shifted what is happening in music.. With music, the expectation is that it is effectively free. Theyre past their prime. In the 2010s, with each record release, there seemed to be a major dispute with the streamers., Well in the 2010s, with each record release, there seemed to be a major dispute with the streamers. 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. 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. So Spotify launches in Europe, and what they sell you is convenience. The rocky presale era for the "Eras Tour" is finally over.. After a long wait, tickets are available on most platforms for Taylor . Notified fans will receive their individual invite to submit their purchase request prior to Friday, December 23. 2023 Vox Media, LLC. Now, here in 2023, the music is marketing for you selling everything else your concert tickets, your merch, your NFTs, whatever it is. "The site was supposed to be opened up for 1.5 million verified Taylor Swift fans," he said. / CBS News, Taylor Swift is speaking out amid the controversy surrounding Ticketmaster's handling of her upcoming "Eras" tour. In 2014, she removed her entire back catalog of music from Spotify. 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. The singer commented on the issue on her Instagram story on Friday, saying that Ticketmaster had assured her team "multiple times" they "could handle this kind of demand. 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.". Thats why Im saying its way more than TikTok. Honestly, the only one that I would put money on right now is Lil Nas X. Just by Googling the name of the song, you can probably find a way to listen to it. In many ways, she is at her height and shes still breaking records on charts. I got them throught Ticketmaster. That is going to be very, very lucrative for her. Subscribe; . Onsale Dates and Times TaylorSwiftTix powered by Verified Fan Starts Tue, Nov 15 @ 10:00 am EST Ends Thu, Nov 17 @ 10:00 pm EST 55 days ago Aisle Seat Verified Fan Presale Starts Tue, Nov 15 @ 10:00 am EST I wasnt going to make playlists. So Spotify arrived internationally in 2006, famously as a response to piracy, especially in European countries, where piracy completely destroyed the industry. Lets just be more explicit about that to make it really clear for people. 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. You were talking about how if you go viral on TikTok, then all of your fans will go listen to you on Spotify, then they might go buy a T-shirt, then they might end up buying a tour ticket. He is a master of the platforms, and he makes compelling and well-produced content. Its all the best stuff. He has transcended the platform. Its at a height, but its a height that feels like it cant keep going up. Fourteen million people attempted to buy Taylor Swift pre-sale tickets on Tuesday, the CEO of Ticketmaster's largest shareholder has claimed. Because all the way up to Midnights, she has been a master of marketing an album, but nobody knew at the time that this was going to happen. Dec. 12, 2022, 1:37 PM PST. I mean, it puts us a bit more into the world and conversation of content creators. They cant control their costs. . Shortly after announcing the Eras Tour, Swift added eight new dates to the highly anticipated event. You have to enter the content creator world and build your identity off that. "Thank you for wanting to be there," she said. Thank you for wanting to be there. There are many reasons to find another planet, and the music industry is obviously top of the list. There are all kinds of things that are happening in music to lead into that potential future world in which music will be essential. You had a whole different set of distributors, given that there were physical goods, but most of them have shut down. There are still cracks in the model, right? (Fox News Digital / Fox News), Many fans sat in the Ticketmaster queue and were told they would need to start the process over. Break them up," she tweeted. There are so many robot nursery rhymes that go viral on TikTok and then they kind of go nowhere. 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. 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, 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. Sign up for free Patch newsletters and alerts. What Im getting at is that the marketing funnel is really hard. Theyre able to get their. 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. I was one of those listeners. Several pre-sales events are planned ahead of Madonna's holiday tour before the public sale begins, which Becker considers a bad sign. Welcome to the business show, Charlie. 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. Well, yeah. So not all the music, but effectively. The logic of it makes sense. Its very possible that someone might need this company because with music, to your point, you cant bet against the internet. Ticketmaster still has 170,000 Taylor Swift Eras Tour tickets after its canceled general sale for the tour. In. So then that era ends and were no longer making all the money on CDs, the revenue for the industry has crashed because of piracy, and for some reason its really hard to get a ringtone on a phone, so people will pay 99 cents for a ringtone. Taylor Swift's Eras Tour is on track to sell $591 million in tickets leaving Ticketmaster with a relative pittance and buckets of bad PR . The statement wrapped up by saying Ticketmaster is working on improving its technology for future sales, before offering some perspective on the scope of the demand for Era tickets. 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. I dont know if we prepped you for that. Originally, Swifties were able to sign up for Ticketmaster's Verified Fan programuntil November 9, which allowed them to rank their preferred show dates. We want to look at how many Instagram or Twitter followers you have. 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. 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. Everyone knew getting tickets for Taylor Swift's The Eras Tour was going . News / Jan 17, 2023 / 10:23 PM CST. Theyre also going to shows and doing their old style stuff as well, but they have more data and tools than ever to figure out what is bubbling up. But you are the artist. I want to sell my TS Eras tickets here on stubhub. Are there any other artists that have done it differently or better than she has? First published on November 18, 2022 / 1:08 PM. In the CD era, you wanted to buy a greatest hits record because it was all killer, no filler, right? I mean, they would all say they are. 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. I dont mean to say that theres zero money. Its both, because she is putting out vinyl. Get browser notifications for breaking news, live events, and exclusive reporting. 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. There are all kinds of new ways to participate. LOS ANGELES, CA Trying to buy Taylor Swift tickets for the Eras Tour? Taylor Swift fans were disappointed in the experience with Ticketmaster. Taylor Swift fans sue . All presale codes and links sent via text will still work at that time, they said. That is true. Apples basically saying, Listen, in order to launch a streaming service, we need a ton of users. Especially smaller artists that cant front the money for a huge spectacular stage show. At some point, she met the industry in the middle. I recognize Im a dinosaur and thats fine. I want to talk about that conversion funnel real quick. For the labels, its very clear. There are plenty of places where they deserve credit, but in terms of their ownership stakes, no, of course not. A podcast from The Verge about big ideas and other problems. There are not as many folks in the middle class of streaming as the streamers would like to say there are. She has four versions of this album that make a clock, and you have to buy all four copies on vinyl. Powered and implemented byFactSet Digital Solutions. So Taylor Swift puts out her first CD in 2006. 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. So, critically, Spotify is just deeply linked to the major labels. And that is true; I am on guitar solo TikTok. Its NFTs, its blockchain tokens, its whatever universe the DJs want to put together. "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. 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. 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. People want higher payouts per stream, and they want streams that are fair to artists and actually connected to their subscription. )," the Grammy winner wrote on social media. 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. Vinyl is a small but meaningfully growing share of the music revenue pie. You want to own the most amount of that master recording as you possibly can. Because its marketing. Everything has just become more expensive in our world with inflation. Its still not the entire penny. Harris dead at 31. 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. Thats Decoder everybody. The big difference is that the whole industry was a physical goods business; as you said, people were buying CDs in stores. Many fans sat in the Ticketmaster queue for hours waiting to get Swift tickets. Go make a record. Thank you for your patience as we continue managing this huge demand.. everything else your concert tickets, your merch, your NFTs, whatever it is. We have seen the massive devaluation of Netflix. Do they know that their business is out the window? The greatest hits record is a really interesting example. She has mastered the album release cycle. You heard it here first. I have to say, Im not following it too closely because its such a complex ecosystem. Swifties reported website outages and hours-long waits only to log off empty-handed. People do not want it to be taken away from them and big tech companies know that. I mean Charlie Puth was a YouTuber. I cover pop, but I also love to shred on the guitar. The Grammy winner also wrote that the situation "really pisses me off" and that she was actively working on a solution for her fans. 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 . People arent getting paid enough. The extra dates officially made Eras her biggest tour to date. Theres huge supply strain constraints. This material may not be published, broadcast, rewritten, or redistributed. Its the only way that you can hear these songs. 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. Your expectation is, This better be amazing. Thats creating this upward spiral of, I want a better show. 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. Theyre just like, I dont understand, big tech company. Now I think that there is a realization of, Can you do it again? I think theres just more and more scrutiny of whether you can generate multiple viral hits. Microsoft has failed a few times. The queue for those tickets, initially reserved for both Taylor . He creates whole media cycles off of the things that he makes. Amazon Music is going to be fine because Amazon is fine. She is trying to reclaim the rights to all of her master recordings, which were sold without her permission by her former label. Charlie, this was great. When you are a young artist trying to come up, and youre like, I need to build an audience on TikTok so I can go to a label and have some leverage to get back from the label what I want, how big of an audience do you need? All of the movie streamers do not give you all the movies. We've received your submission. Does that stuff seem viable to you? Streaming is currently very much still a part of that. "Tennessee Attorney General Jonathan Skrmetti is concerned about consumer complaints related to @Ticketmaster. You just need a safe space of Guns N Roses fans making only Guns N Roses content. It was hard to get national or global distribution without a label. There is no shortage of stories of artists, musicians, and songwriters being short-shrifted throughout the entirety of the music industry. I mean, well find out. I am curious and skeptical whether or not that simpler model could work. Yes, in the early 2010s, artists like Adele and Coldplay were also saying, Hey, were not down with this. She had bumps along the road doing so. There was some weirdness with it, but the artists seemed happy with that arrangement. The talent scouts whose job it is to go and find new talent are surfing TikTok. Market data provided byFactset. The services are built on music, like audio trends, dances, and memes. So is everyone else. Everybody gets it. She certainly wants to own this asset for the amount of money that can be made in streaming. 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. People are always going to be upset about their contracts in music. 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. You said at the beginning here that streaming feels like its on the rocks. Charlie, this was amazing. The company did not say whether more tickets would be sold for the tour at a later date. 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. How did Spotify do at that moment? Music listening may be seasonal. (Gareth Cattermole/TAS18/Getty Images for TAS / Getty Images), Taylor Swift performs onstage during her "Reputation" stadium tour in Arlington, Texas, on Oct. 5, 2018. I would pick Lil Nas X as well. Taylor Swift performs on stage during her "Reputation" stadium tour at Wembley Stadium in London on June 23, 2018. Is the music on streaming still just marketing for that stuff, or is that valuable to her now as well? It is getting more difficult because there is more content on TikTok than there ever has been before, so it is becoming harder and harder to break out every single day. So I think something could happen there. Lets talk about the last $20 that the industry thinks it might be asking for. For Spotify and all the other streamers, its not great, because it means you cant control your costs. There are hundreds of people who have been signed now off of the platform to label deals. Shes very savvy, yes. 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. I want to start all the way back then, with Taylor Swift in the CD era. 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. So yeah. Taylor Swift Makes Surprise AMAs Appearance in Golden Jumpsuit and Shouts Out Blake Lively! Right? 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. She was acting as a voice for a number of quite unhappy folks at that time. 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. Then she was like, I have a new record, but if you want to listen to it, you have to pay for it.. (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. She was the product of a Nashville system and she did not have a built-in fan base when she released her first record. So, in this episode, Charlie and I walk through a brief history of the music business which, despite its ever-changing business models, is permanently trying to find something to sell you for $20, whether thats the music itself, all-access streaming, merch, and even NFTs using Taylor Swift as a case study. Ringtones was one of them.. It fuels trends that are observed by billions of people within days. Its not happening anymore. Since then, Swift has released three new albums: "Folklore," "Evermore" and "Midnights. Spotify is the only major streamer that is not subsidized by a larger tech company. Then inside of that, you might make some ancillary deals to re-record or whatever. You understand the value exchange there, even if the label is taking too much money. Theres certainly the value of the music in advertising sync and getting it synced in video and so on. 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 while the inquiry is said to predate the Eras tour disaster, the situation further exacerbated complaints from fans, musicians and politicians alike. 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