The singer commented on the issue on her Instagram story on Friday, saying that . 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. Thats why they want to do podcasts and why they have original videos. Part of what youre saying, Nilay, is that music is more valuable than it has ever been. I had a boost email from TaylorNation, she wrote. Several pre-sales events are planned ahead of Madonna's holiday tour before the public sale begins, which Becker considers a bad sign. I could probably name a bunch of 90s bands here, but I think were already at risk with the Taylor Swift fans. Some potential ticket buyers were locked out of the sale when their Verified Fan codes failed to work, while others were initially able to secure tickets, only to lose them and get kicked out of the process once they tried to check out. 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. Nov 18 2022 by Eden Arielle Gordon. What we can sell them is convenience, as opposed to the chaos of piracy. 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. Were talking about crypto. The way you make more money is often either by getting your stuff to more people or by being some middleman who gets a better, stronger contract. Theyre like, Great, we know that revenues are growing. Music listening may be seasonal. Im so sorry. <p>Taylor Swift | Era's Tour | 1st Floor Ticket | With It's Been A Long Time Coming VIP Package| Los Angeles 8/8. Swift hastwo shows scheduled in Pittsburghfor June 16 and June 17. That to me is the thing that might change it in the TikTok context. Invites will also be staggered by tour dates in each city. 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. 4 tickets together to the ERA'S TOUR Taylor Swift on Saturday May 13th (5/13/23)! She certainly wants to own this asset for the amount of money that can be made in streaming. Amazon Music is going to be fine because Amazon is fine. Now every single time that people stream these songs, she gets more of the share of that stream if they listen to Taylors version. 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. The labels go along with this because functionally, they have no choice. And yet, not all the people are as rich as they should be. Charlie, this was amazing. I think there are many places in the whole music industry, in all aspects of it, that are struggling. The saga started back when Swift first announced she was going on tour following the release of her 10th studio album, Midnights. She was like, Im out of here. So I think something could happen there. It seems to be a mentality of, How can we get this stuff out there so that people can hear it and we can monetize it later down the stream?. I dont want to deny that it could come from that ecosystem. Taylor Swift addressed the recent controversy surrounding Ticketmaster's handling of tickets for her upcoming Eras tour. And then Taylor Swift transcends it all. When I think of the promise of the Metaverse, what I think about is a private equity firm collecting royalty checks on streaming Neil Youngs back catalog to me. I mean, it is important to note that the entire music catalog is not available. Notified fans will receive their individual invite to submit their purchase request prior to Friday, December 23. Taylor Swift fans were disappointed in the experience with Ticketmaster. Taylor Swift performs on stage during her "Reputation" stadium tour at Wembley Stadium in London on June 23, 2018. 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. You kept more of your revenues if you own your music, youre always better off but it was much more challenging as an independent. Maybe you buy a movie on iTunes for $20 or $30. The Capital One presale was also rescheduled for the following day. . "Even our competitors want to come on our platform. Taylor Swift Makes Surprise AMAs Appearance in Golden Jumpsuit and Shouts Out Blake Lively! 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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. 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. Theyre able to get their. Fourteen million people attempted to buy Taylor Swift pre-sale tickets on Tuesday, the CEO of Ticketmaster's largest shareholder has claimed. There is opportunity for someone to do something very creative and disruptive.. Its like, Thats what I call music. Again, I will say, I think the style of pop music in particular right now does not lend itself to the intimate club show. If so, I think this is where all the hedge funds buying up these music catalogs will have been overwhelmingly right, and they will shove it in our faces and say, Look, this stuff was worth a hundred times more than what you thought it was, because when youre in these virtual worlds, all you want to do is have some great background music going on. Unless that all just gets written by AIs, then maybe not. If you got 15 songs, well, thats a lot more than the nine-song record. 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. 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 mega ticket marketplace has apologized but its not enough for these diehard Swifties, who are claiming Ticketmaster purposefully misled presale ticketbuyers when it could not satisfy ticket demand.. People use these platforms to hopefully up-level off of those platforms into places where they can secure more acclaim, revenue, et cetera. 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.". The logic of it makes sense. I had Loverfest tickets (which supposedly boosted me). You can be paid out in hundreds of millions, billions of dollars. You could walk into the store and see that your thing was the most billboarded. So not all the music, but effectively. There are public funds now where you can invest in music publishing. She got into a fight about Apple Music, but now shes one of the faces of Apple Music. I feel like I always force you into this every time youre on our show. Lets talk about the future of music now, and the new trends were seeing, the things that are coming next. Right. Theyre making a really big gamble about their future. So many people have tried to launch live audio experiences. On the day the canceled general ticket sale was supposed to occur, Ticketmaster issued an apology to Swift fans along with a lengthy explanation about what went wrong during the presale. Colleagues of ours at Vox had a great story about the TikTok to Spotify pipeline. Ticketmaster cancels general public sale of Taylor Swift tour tickets. 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. "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 have no idea how much that means.". People are still buying songs for 99 cents on iTunes, and people are still buying CDs in order to rip them onto their computers. Peoples behavior was going in one direction, and that was, I want all the stuff, just give it to me. Now, obviously, there are always going to be collectors. 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! Theyre past their prime. Oftentimes you can buy greatest hits records, and its not actually the greatest hits, its re-recordings of the greatest hits. What if during the holidays all we do is listen to Mariah Carey, and we listen to her seven times as much as we listen to all other music throughout the rest of the year? They give you the movies that they have licensed, then things just disappear and you no longer have them. I mean, its like the bigger internet story, in that you can find more interesting, beautiful, and special little things. Once again, probably best not to get your hopes up. I mean, well find out. I want to talk about that conversion funnel real quick. Thats amazing. I hope those things can also survive so that whoever has been able to have the time to develop that talent can keep on doing it. Ticketmaster no longer wants to be the "Anti-Hero" to Taylor Swift fans. LOS ANGELES, CA Trying to buy Taylor Swift tickets for the Eras Tour? Im not being fair to Guns N Roses here, but lets just say its only you and three other people listening to them. She had bumps along the road doing so. She said she's "trying to figure out how the situation can be improved moving forward. We no longer have our Virgin Megastores selling all of our CDs to us, or Tower Records. 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. 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. This is just part of a much larger trend of the financialization of music catalogs. Lets just be more explicit about that to make it really clear for people. She has four versions of this album that make a clock, and you have to buy all four copies on vinyl. Right. Do you think she, as an artist, understood that this change was coming and was changing her strategy? If and when virtual reality becomes a compelling, mainstream product for many, many people, music will certainly be at the centerpiece . Well, this is the thing. By suppliers, you mean the musicians themselves? It goes without saying that I'm extremely protective of my fans. Presale codes were then sent out to 1.5 million potential ticket buyers, while the remaining 2 million people were put on a waitlist. No offers below $2500. They are now the distributors of music. Theres huge supply strain constraints. 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. They want to buy their music. You just need a safe space of Guns N Roses fans making only Guns N Roses content. (The Associated Press / AP Newsroom), GET FOX BUSINESS ON THE GO BY CLICKING HERE. This is why tech companies want to own this asset, even if they cant really monetize it that successfully. Charlie, this was great. I mean, you cant take that away. Its like he gets human psychology. Its not happening anymore. But the labels, they navigate it. She knows that super fans will buy not only vinyl, but also the super deluxe vinyl version of the collectors thing and blah, blah. They keep trying to get somewhere else. 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. That to me seems like the most opaque part of this entire thing. 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. 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. Its not just which artists you listened to, its how much you listened. You are having to convert people from place to place to place to place, and those platforms dont want you leaving. Shes saying, Heres Speak Now (Taylors Version), off we go, and now her fans have instant access. Listeners, on the other hand, were very pleased because they got everything all the time. No, no, no. We have three big labels now, but we had four at the time. Everyone is mad at Ticketmaster, and like, Dua Lipa needs to go home. They already have leverage. All fans receiving this opportunity were notified via email on Monday, December 12. Obviously, with an NFT, you dont have to front the cost of a tour and you dont have to manufacture clocks. The vast majority of Spotifys revenue goes to rights-holders, and yes, rights-holders are a stand-in mostly for labels. Since that time, hundreds of thousands registered for the right to purchase tickets days earlier than otherwise available through Ticketmaster. 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. I wasnt going to buy the nine-song record because CDs at my local Best Buy were very expensive. 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. I think thats the thing that leads to lasting impact. It is fascinating to me that she is able to pull it off in this way, because there is no secondary transaction. 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. Mutual Fund and ETF data provided byRefinitiv Lipper. From a listener point of view, no wonder we were unhappy. 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. 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