So not all the music, but effectively. Subscribe; . The logic of it makes sense. 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. 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. He noted that Swift's lack of concerts since her "Reputation" tour which ran from May to November 2018 could have contributed to the high demand. "This exceeded every expectation," Maffei explained. Taylor Swift Finally Addressed the Ticketmaster Debacle. Very much so. Lets just be more explicit about that to make it really clear for people. Let us know when you do in comments. 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. That means I should be able to sell them no problem here. Ringtones was one of them. What do you think a label is looking for? There have been 20 years of the streaming business. 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. 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? Even before ticket sales kicked off, the demand for Swift's upcoming tour was high so much so that the Midnights singer added an . We can probably model some churn based on if theyre listening to great music from the 50s or 60s. A fan who had been sent a verified code was told the Ticketmaster account wasn't linked to the Verified Fan sale. That just seems very untenable to me. 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. Even though theres more music than ever, there is so much historical music that is not available. It was probably very difficult for an indie artist, because distribution was more challenging then. 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. Well, I think that tour is actually finally over, but she was effectively permanently on tour, and it was generating tons of media for her on social. Some 1.5 million fans were given a promo code for the verified fan presale, with the other 2 million placed on a waiting list. To get the $20 at the end, we have to front too much money. Santigold, Shawn Mendes, Animal Collective, theyre all complaining like, This is too much. A lot of her actions have helped on the margins. 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. Whatever club banger metaverse that you think you might be in, theyre going to have you in it. I was one of those listeners. Section 240 Row 15 Seats 22-25 Transfer from Ticketmaster electronically upon payment : tickets are in hand. In terms of it being a threat, though, I think its more a new pathway to potentially create stars. She has mastered the album release cycle. Taylor Swift performs on stage during her "Reputation" stadium tour at Wembley Stadium in London on June 23, 2018. Along with the tour announcement came information about how fans could score tickets. 2022 CBS Interactive Inc. All Rights Reserved. They were a manufacturer in a way that a label today is not. I wanted all of my music that Ive ever had. The most exciting thing in music is that people control more of their destiny. 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. 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. Her career is definitely a good case study across the last almost 20 years. It was almost like the launch of MTV in terms of a new place for people to be able to make hits with audiences that had been underappreciated, mostly young people hanging out on their phones. No tickets and a card I cant use.. 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. 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 the baseline expectation I think all of us have of the metaverse. Taylor Swift tour tickets listed for as much as $22,000 as Ticketmaster crashes Millions of fans try to snap up presale tickets to singer's 2023 Eras tour in the US, with Ticketmaster's. "Thank you for wanting to be there," she said. Where is Xbox Music? Thats usually the best outcome. 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 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. The saga started back when Swift first announced she was going on tour following the release of her 10th studio album, Midnights. If and when virtual reality becomes a compelling, mainstream product for many, many people, music will certainly be at the centerpiece . On Thursday, Ticketmaster canceled its general sale of the tour tickets that was supposed to debut on Friday after hours of complaints about pre-sale site complications and glitches. Well, this is the thing. What do you think of it? I have to say, theres something very dystopian in a business context about saying she wants to own the whole fraction of a penny. If the structure of this episode is, How are they going to ask you for $20? First it was CDs, now its tours and merch. Its long gone. I want to start all the way back then, with Taylor Swift in the CD era. 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. Vinyl is a small but meaningfully growing share of the music revenue pie.. And its getting harder because all of these things are marketing funnels for other places. He creates whole media cycles off of the things that he makes. You can find out more and change our default settings with Cookies Settings. 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. Like the streaming model, there is going to be a cap on the amount of concerts that people are going to go to. When you see how she has made that shift, are there any other artists who have managed to pull that off? I dont think we actually know, but if you were an artist at that time, how much of that money was coming to you? Shes an amazing songwriter. 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. They want to exit or they actually believe in this system and think that those revenues in the future are going to be very valuable. I think you have to live and breathe in it to really see the opportunities because its moving so quickly. Thats what Im saying. 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. If you were a songwriter like Taylor Swift, you would also get a cut of the publishing royalties. We were looking at the number of legacy artists that are selling off their catalogs for huge amounts of money to private equity companies, who all think theyre going to make massive returns on owning those catalogs of music. Are there going to be another 20? 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. My instinct is that theyre like, Yeah, heres this license to see if your little ticky-tockie works, and now theyre at the end of a period and theyre like, Oh, it worked really well. I live in the best city for it," said Amy . It . Ticketmasters parent company is Live Nation. 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. You go to the store, you spend $20 to buy the CD. I mean, they would all say they are. ", "It goes without saying that I'm extremely protective of my fans," she said. ", Ticketmaster then explained their Verified Fan process, which is tasked with "identifying real humans and weeding out bots." 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. The supply of music was growing, and the overall proportion of revenues per artist per song had been declining. Does streaming keep on working? EMI was eventually bought by Universal, so there was a lot of consolidation on the label side. You had a whole different set of distributors, given that there were physical goods, but most of them have shut down. In their suit, Swifties claim Ticketmaster tacitly encourages scalpers because the company gets paid fees every time tickets are resold. Its very challenging to be able to make a living without streaming hundreds of thousands of songs. You can serve them too, by the way. 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. AP Taylor Swift at the MTV Europe Music Awards Nov. 13 in Duesseldorf, Germany. Theyre making a really big gamble about their future. It goes without saying that I'm extremely protective of my fans. We no longer have our Virgin Megastores selling all of our CDs to us, or Tower Records. All of the movie streamers do not give you all the movies. Taylor Swift addressed the recent controversy surrounding Ticketmaster's handling of tickets for her upcoming Eras tour. (Fox News Digital / Fox News), Many fans sat in the Ticketmaster queue and were told they would need to start the process over. <p>Taylor Swift | Era's Tour | 1st Floor Ticket | With It's Been A Long Time Coming VIP Package| Los Angeles 8/8. 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." If chosen for the presale, fans were sent. Even if a lot of people listen to our music, were not sure how much we are getting paid.. ", The singer added that she was investigating why the situation unfolded the way it did and how it could be improved in the future. 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. The tour, which will be a "journey through the musical eras" of Swift's career, is set to kick off next March in Arizona. 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. Because its marketing. We have to see how big your TikTok is before we ever sign the deal.. 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. Fans are also quite unhappy with a lot of these ticketing issues as well, obviously. Thats for sure. 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. Im so sorry. Harris dead at 31. When I say streaming is on the rocks, what Im getting at is that its still not as valuable to anyone as it should be. That to me seems like the most opaque part of this entire thing. That turned into a weird interstitial revenue moment for the industry. YouTube is going to be fine because Google exists. Its hard to think of another artist at this point that actually monetizes music itself as the primary and richest revenue stream. However, I am worried at at some point the transferrable button will be unavailable. Invitations will be staggered by tour dates in each city. 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. You can get your one robot nursery rhyme to go viral on TikTok, but then you dont have any other moves. A few hours after the sale's planned start time, Ticketmaster tweeted that the issues were due to "historically unprecedented demand" and announced it was pushing back the start times for some West Coast venues. While appearing on The Graham Norton Show, the "Bejeweled" singer first teased an upcoming tour tied to the release of her latest album. It thinks the Switched on Pop TikTok account is an in-recovery smoker who is really into a bunch of very dated movie references. . Taylor Swift Makes Surprise AMAs Appearance in Golden Jumpsuit and Shouts Out Blake Lively! You see why theres interest there. Taylor Swift performs on stage during her "Reputation" stadium tour at Wembley Stadium in London on June 23, 2018. David Hasselhoff is still doing well in Germany. So the person who took that bad record deal in the past, who does have the right to the songwriting, can re-record it and make more money off that record. The music that we are able to listen to is music that can be monetized. I mean, depending on what happens in the stock market in the coming year, I think its very possible that they become an acquisition target for a tech company that needs a streamer. You have to make it on your own. They were more expensive, so bands would have a one-hit single and a CD full of crap. How much of that money went to her as the artist, in general? 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. "Even when a high demand onsale goes flawlessly from a tech perspective, many fans are left empty handed. TikTok is profound, and it has very meaningfully shifted what is happening in music.. A group of 25 incensed Taylor Swift fans from across the country are suing Ticketmaster for fraud and intentional misrepresentation after last month's Eras tour debacle. Charlie, this was amazing. Ive always thought that if you can wrap your head around whats happening to the music industry, you can pretty much see the future of TV or movies or the news or whatever because the music industry just moves that fast. Well, if you want to do a 20 best guitar solos of all time conversation, we can start a whole new podcast on that. That helped persuade me eventually, but most of us were just trying to listen to everything that we wanted whenever we wanted. Swift had been set to perform the "Lover Fest" tour in 2020, but it was canceled due to the coronavirus pandemic. (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. )," the Grammy winner wrote on social media. Artists and performers didnt get paid off with radio streams unless they were a songwriter. Surely. I dont know. Lisa Marie Presley's net worth: Losses, lawsuits and Graceland, Marie Osmond says her kids won't get an inheritance, Former "American Idol" contestant C.J. 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. She has not yet had to make that turn, but the midline artist is desperate for the next thing they can sell. 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.. 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. The iPod is out, but Apple is still saying, Rip. Youre already worth a trillion dollars. 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. Then theres the next stuff, like the actual threats. If you go see an Avengers movie, you might spend $20 on a ticket plus popcorn, or if you watch it on streaming, you might spend an enormous amount of money for those streaming services. The big difference is that the whole industry was a physical goods business; as you said, people were buying CDs in stores. Do you think she, as an artist, understood that this change was coming and was changing her strategy? And yet, not all the people are as rich as they should be. "Though AOC may not like every element of our business, interestingly, AEG, our competitor, who is the promoter for Taylor Swift, chose to use us because, in reality, we are the largest and most effective ticket seller in the world," he said. Now theyre an audio company. Thats going to happen. 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.". 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. Actually the last half hour of this episode is you just doing a solo. I think there are many places in the whole music industry, in all aspects of it, that are struggling. 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. The question is, do we keep listening in this way? All presale codes and links sent via text will still work at that time, they said. We can talk. Thats the other thing I want to stipulate. Everybody gets it. There was maybe a simplicity, a clarity, to how the business worked. 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. To get music, you had to go to the store and buy a physical copy of a CD, and that made everybody rich. Thats where we should come to now. 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. 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. "If Chick Fil A was in charge of the Ticketmaster queue I would've had Taylor Swift tickets within MINUTES just saying," a Twitter user wrote. You and some of your listeners can dispute this, but music is not a technology business. Now every single time that people stream these songs, she gets more of the share of that stream if they listen to Taylors version. Yeah, I mean Metallica was also unhappy at the time, but they didnt have the same amount of clout. If I had to pick one, I would pick him. I was a verified fan. It gets proven out in Europe over time. I've done this SPECIFICALLY to improve the quality of my fans' experience by doing it myself with my team who care as much about my fans as I do," she wrote. So yes, there are other breakout stars, and there are more and more of them every single day. 4 tickets together to the ERA'S TOUR Taylor Swift on Saturday May 13th (5/13/23)! 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. Two, she is also an incredible capitalist money machine. Per the release, ticket prices ranged from $49 to $449, with VIP packages going for $199 up to $899. She also shared the names of the performers who will be joining her onstage for her opening acts, including Paramore, Phoebe Bridgers and HAIM, before ending with a message to her fans: "I can't WAIT to see your gorgeous faces out there. She just wont stop. The last thing I want is the Fleetwood Mac army coming for me. Ticketmaster cancels Taylor Swift public ticket sales due to demand and 'insufficient' supply. That is more or less how the streaming model works. We have three big labels now, but we had four at the time. One, I think we both very much like Taylor Swifts music and we think shes a good musician. If we had a pay-per-stream model, all of a sudden Spotify would have to pay out seven times more than its used to during that winter season. 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. A group of 25 incensed Taylor Swift fans from across the country are suing Ticketmaster for fraud and intentional misrepresentation after last months Eras tour debacle, The Post can confirm. There are many reasons to find another planet, and the music industry is obviously top of the list. Apple Music is going to be fine because the iPhone is fine, right? There are all kinds of new ways to participate. I mean, its like the bigger internet story, in that you can find more interesting, beautiful, and special little things. "Thank you for wanting to be there," she said. 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. Taylor Swift performs onstage during her "Reputation" stadium tour in Arlington, Texas, on Oct. 5, 2018. One is the sound recording, called the master, which Taylor wants to own. If music was working, you could keep leaning harder into it, but its not the future of that business. How did Spotify do at that moment? Li Cohen is a social media producer and trending reporter for CBS News, focusing on social justice issues. Everyone knew getting tickets for Taylor Swift's The Eras Tour was going . Please enter valid email address to continue. Thank you so much. Its all out there. We now live in an intellectual property business, where a lot of these things are never actually even printed. Right? This is just part of a much larger trend of the financialization of music catalogs. I got them throught Ticketmaster. Oftentimes you can buy greatest hits records, and its not actually the greatest hits, its re-recordings of the greatest hits. There are people getting better label deals than ever before because they are building their own fanbases. Its not just which artists you listened to, its how much you listened. Everyone is mad at Ticketmaster, and like, Dua Lipa needs to go home. Its the future of music. Again, it stood as an admission of, We cant sell this stuff. 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. There was like a 10-year dark era where the industry was searching for the next thing. First published on November 18, 2022 / 1:42 PM. The company later said that over 3.5 million users pre-registered for the sale, making it the largest registration in Ticketmaster history. Well, the most important thing was Spotify getting the buy-in from the entire industry. To be fair, the big knock on the music industry during the CD era was that CDs were full of filler tracks in order to make them look like a better value than they were. Its a part of their portfolio to help them sell phones, or to help them sell everything in cardboard boxes or whatever it might be. You get the entire catalog of recorded music, in a way that Netflix doesnt have everything or HBO doesnt have everything. 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. Many people are arguing for a pay-per-stream model. Music is weird in that it seems utterly ubiquitous, but its actually consumed the most by, and obsessed over the most by, a fairly small group of people. Now were in this inversion where the music is effectively free to listen to, and the artist wants your $20 for a concert ticket. 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. Heres how I think most people think their streaming subscription works. She got into a fight about Apple Music, but now shes one of the faces of Apple Music. Maybe you buy a movie on iTunes for $20 or $30. 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. But the labels, they navigate it. She eventually had to go to where her listeners were. "Congratulations, you have been selected to participate in a limited-time opportunity to request to purchase 2 tickets to Taylor Swift The Eras Tour," the note read, per Billboard. Its an unusual part of the licensing arrangement in the United States, and its not common elsewhere. 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?. Where is Zune? Dec. 12, 2022, 1:37 PM PST. It gets harder and harder to eke more dollars out of the rest of the globe. "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.". And while the inquiry is said to predate the Eras tour disaster, the situation further exacerbated complaints from fans, musicians and politicians alike. We have seen tech stocks everywhere struggling. So moving outside of the $1 million NFT to the $20 NFT, maybe there is an opportunity for more collectible items in this sense.