In the CD era, you wanted to buy a greatest hits record because it was all killer, no filler, right? Listen to Decoder, a show hosted by The Verges Nilay Patel about big ideas and other problems. I want to talk about that conversion funnel real quick. And the U.S. Senate subcommittee that handles antitrust and consumer rights matters revealed it plans to hold a hearing to discuss concerns about Ticketmaster in the wake of the Eras errors. He, like Taylor, is brilliant at understanding where the culture is at and how to say or do something on the edge of acceptability within certain communities, to then cause uproar, backlash, and embrace. YouTube is going to be fine because Google exists. ", 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. So when everybody wants to do that at the exact same time, all of the venues and all the promoters are now in a place where I mean, I would book Harry Styles for 30 years of residency or put Taylor Swift on tour forever if I were Ticketmaster, because there is so much potential revenue to be made off of ticketing fees in those scenarios. Were all just trying to get back to, Im giving you $20 as directly as I can. So if the CD era was, Im buying the music for $20, and then concert tickets are cheap because they promote the CDs, then that made sense. In response to the presale fiasco, more than two dozen Swifties teamed up and filed a lawsuit against Live Nation Entertainment. They give you the movies that they have licensed, then things just disappear and you no longer have them. Welcome to the business show, Charlie. I want it in bigger places. I also think the mathematics of the model get really weird once youre talking about share of listening on a global basis. What I would not bet against is the internet and the expectation, which an entire generation has now been raised with, that all the music is on YouTube. However, I am worried at at some point the transferrable button will be unavailable. Its just, Click on this one instead of that one, and her fans are all doing it. With music, the expectation is that it is effectively free. Sign up for free Patch newsletters and alerts. "Thank you for wanting to be there," she said. According to documents obtained by Deadline, Live Nation Entertainment is being accused of violating the state's Cartwright Act and Unfair Competition Law, fraud, misrepresentation and fraudulent inducement. The singer's team has announced that some verified fans who weren't able to buy tickets last month will get a second chance. I dont think so. I mean Charlie Puth was a YouTuber. Its the only way that you can hear these songs. Now we live in a world where people can blow up on TikTok overnight and negotiate very favorable terms with a label because they have already built an audience. Yeah, I mean Metallica was also unhappy at the time, but they didnt have the same amount of clout. I pay Spotify $15 a month. Talk to us about the CD era. Its really hard to change behavior. ", The singer added that she was investigating why the situation unfolded the way it did and how it could be improved in the future. There are some very meaningful, projectable revenues that can be made if you own all of your recordings, so she is taking those actions. Here's Everything to Know. Swift hastwo shows scheduled in Pittsburghfor June 16 and June 17. This doesnt make any sense.. We no longer have our Virgin Megastores selling all of our CDs to us, or Tower Records. The idea is that you have to just accept that people want access to everything all the time. Greg Maffei, CEO of Liberty Media, opened up about the ticket fiasco during an appearance on CNBC's "Squawk on the Steet." This material may not be published, broadcast, rewritten, or redistributed. 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. "You have no idea how much that means.". Theres so much. . If you were a songwriter like Taylor Swift, you would also get a cut of the publishing royalties. I dont like this.. Part of doing so would require getting permission from all of the labels to be able to play all songs, all the time, all the way through on demand, and whenever you want. Its not just which artists you listened to, its how much you listened. I dont have insight into her taxes, but obviously she has done movies and she has brand endorsements. Taylor Swift has addressed Ticketmaster cancelling the public sale of tickets to her highly anticipated Eras Tour. Yeah. We now live in an intellectual property business, where a lot of these things are never actually even printed. I pay my $15 in and I spend 100 percent of my time listening to Guns N Roses; the other 99 subscribers pay their $15 in and spend 100 percent of their time listening to Taylor Swift. A few days later, Swift confirmed she was going back on tour in 2023. 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.". 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. "I never could have imagined how insane this whole process has been," one of Swift's fans, Amber Garis, told CBS Mornings. The question is, do we keep listening in this way? It actually does create an opportunity where there are small collectibles that anybody can participate in. 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." People use these platforms to hopefully up-level off of those platforms into places where they can secure more acclaim, revenue, et cetera. People are always going to be upset about their contracts in music. What we can sell them is convenience, as opposed to the chaos of piracy. One, I think we both very much like Taylor Swifts music and we think shes a good musician. You just need a safe space of Guns N Roses fans making only Guns N Roses content. 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. There are all kinds of new ways to participate. This whole episode actually started because our team was talking about Taylor and her masters. I think a lot of folks are looking to K-pop. Its still not the entire penny. 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. A lot of songwriters liked that model. Thats the other thing I want to stipulate. I have to say, Im not following it too closely because its such a complex ecosystem. (Fox News Digital / Fox News), Many fans sat in the Ticketmaster queue and were told they would need to start the process over. You can find out more and change our default settings with Cookies Settings. 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. From the listeners and the artists point of view, its like, What? You are entering a deal where you are hopefully successful and then funding all of the other things that are not successful. Taylor Swift's 10th studio album, "Midnights," was released on Oct. 21. If music was working, you could keep leaning harder into it, but its not the future of that business. I had a boost email from TaylorNation, she wrote. While they estimated that only 15% of users experienced issues, Ticketmaster recognized "that's 15% too many, including passcode validation errors that caused fans to lose tickets they had carted." However, Maffei defended the Live Nation and Ticketmaster merger. Thats what Im saying. Nov 18 2022 by Eden Arielle Gordon. Once they sign up, theres going to be a whole pool of money, and youre going to get it later., That doesnt really make sense when youre like, Yes, but I sold you the thing now and theyre listening to it now, so I should be getting paid now. This goes especially for artists who finally get their royalty payment many quarters later. People arent getting paid enough. 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. Im so sorry. The utility of it, I think, is lacking. She was very hesitant to participate in the new digital era, calling out the ways in which it was set up to exploit artists. There were some smaller versions of this business that launched in the United States RIP Rdio, which was a Verge favorite. I mean, they would all say they are. Its like, Thats what I call music. "It obviously wasn't meant to be if we didn't get tickets but we're upset. Ticketmaster has canceled the public sale of Taylor Swift's "The Eras Tour" after high demand in the pre-sales. Im not going to make excuses for anyone because we asked them, multiple times, if they could handle this time of demand and we were assured they could, Swift said of the ticket fiasco. The rocky presale era for the "Eras Tour" is finally over.. After a long wait, tickets are available on most platforms for Taylor . The ticket-selling. You have to enter the content creator world and build your identity off that. I mean, we are putting that in the metaverse right away. Absolutely, there was clarity. Her albums Fearless and Speak Now came out in this time of big disruption, with early streaming and people still buying records. He doesnt just get the TikTok platform. That dynamic, where you expect more but pay less and the artists are openly struggling, is the most unusual thing about music to me. Im pulling my back catalog. That was bold, because by 2014, the winds were in the sails of streaming. I was like, Napster is the future of the industry! I think underneath that is a recognition from the listener that your relationship is with the artist. We've received your submission. Taylor Swift released her first album in 2006. . Spotify is the only major streamer that is not subsidized by a larger tech company. The first leg of the tour will be in stadiums across the US, with international dates to be announced as soon as we can!" It used to be that you sold the music, and all the other stuff was just promotion for the music as this thing you sold. The singer commented on the issue on her Instagram story on Friday, saying. He creates whole media cycles off of the things that he makes. So yeah. The services are built on music, like audio trends, dances, and memes. Artists and performers didnt get paid off with radio streams unless they were a songwriter. You have to get completely enmeshed in this thing and see all of it to be able to understand the references that are happening in any given moment. We've been doing this for decades together and over the years, I've brought so many elements of my career in house. "The site was supposed to be opened up for 1.5 million verified Taylor Swift fans," he said. I wasnt going to buy the nine-song record because CDs at my local Best Buy were very expensive. 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. The Ticketmaster site was not prepared for the volume of Taylor Swift fans logging on for Tuesday's verified fan presale. Ticketmaster still has 170,000 Taylor Swift Eras Tour tickets after its canceled general sale for the tour. Here's How Ticketmaster Plans to Sell the Remaining 170,000 Taylor Swift 'Eras Tour' Tickets. We know that we own over 70 percent of all the listening that happens on Spotify. From the labels perspective, they can predict what kind of money theyre going to hopefully bring in each quarter. Market data provided byFactset. 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. The singer commented on the issue on her Instagram story on Friday, saying that . 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 did everything the way they asked. People are still buying songs for 99 cents on iTunes, and people are still buying CDs in order to rip them onto their computers. 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. 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. By suppliers, you mean the musicians themselves? Just to put a cap on this episode, what are the markers you see of positive change? Its both, because she is putting out vinyl. Shes doing things that are pro-artist and pro-songwriter, but they are a bit more on the margins. Your job is to go make a ton of bets and hope that one of those will fund all of the bets that fail, and that it does so extremely well and makes you a lot of money. Those verified fans were informed by email Monday that they would be individually invited to put dibs on a purchase request by Dec. 23, with a two-ticket limit. She had bumps along the road doing so. That is true. She said she's "trying to figure out how the situation can be improved moving forward. 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. Ticketmaster no longer wants to be the "Anti-Hero" to Taylor Swift fans. The economics of this dont make sense for us. That helped persuade me eventually, but most of us were just trying to listen to everything that we wanted whenever we wanted. They already have leverage. of residency or put Taylor . 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. 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. I mean, it is important to note that the entire music catalog is not available. Its part of the great scheme. 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. We want to look at how many Instagram or Twitter followers you have. Santigold, Shawn Mendes, Animal Collective, theyre all complaining like, This is too much. ", Swift said Friday that the controversy occurred because of a "multitude of reasons," and suggested that the blame for the situation falls on Ticketmaster. It was probably on her terms, but even Taylor Swift could not get people to pay higher fees or subscribe to a music streaming service while also paying for CDs. In their suit, Swifties claim Ticketmaster tacitly encourages scalpers because the company gets paid fees every time tickets are resold. Thank you for wanting to be there. I mean, its like the bigger internet story, in that you can find more interesting, beautiful, and special little things. Look, I see the NFT as a thing the music industry saw it could sell. Its not clear who listens to it and how, it devalues fans, there were all kinds of ways that people were very unhappy with how they got paid out. Ticketmaster canceled last months general public sale of Swift tour tickets after seeing historically unprecedented demand at its presale events. Were talking about crypto. 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. He is a master of the platforms, and he makes compelling and well-produced content. In many ways, she is at her height and shes still breaking records on charts. Right. 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