When there is no competition to incentivize better services and fair prices, we all suffer the consequences.". I think its important to say that. You have to enter the content creator world and build your identity off that. ", "It goes without saying that I'm extremely protective of my fans," she said. 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. That would be nice and simple, but no, that is not at all how it works. A lot of her early records were released on CD, but by Red, there was a lot of pressure to put things on streaming. 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. Say you only listen to Guns N Roses for an hour that month, but everybody else listens to Taylor for like 24 / 7, the entire time. Its all the best stuff. You heard it here first. The extra dates officially made Eras her biggest tour to date. It . We have to add some stipulations before we begin a conversation on Taylor Swift. What we can sell them is convenience, as opposed to the chaos of piracy. Obviously, young Taylor Swift was going to want to have a great record deal so that her music could end up in every single store and car stereo. There are still cracks in the model, right? She had bumps along the road doing so. 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. Thats amazing. November 18, 2022 / 1:08 PM So is everyone else. I hate that word, but lets just say it. We map her big moves against the business of music over time to try to see if this really is the end of an era. Now before we completely turned to streaming, the revenue model for touring and all the other stuff that artists did was inverted at that time. Mutual Fund and ETF data provided byRefinitiv Lipper. The talent scouts whose job it is to go and find new talent are surfing TikTok. There are still some bonus songs where you have to go buy a thing at a retailer. This whole episode actually started because our team was talking about Taylor and her masters. Certainly, BTS fans are really upset that Ticketmaster is getting an antitrust look at this moment from Taylor Swift sales when they have been complaining about the same issues for many years. 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. 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 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 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. And then Taylor Swift transcends it all. Taylor Swift performs on stage during her "Reputation" stadium tour at Wembley Stadium in London on June 23, 2018. 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. Its often like the Marvel Cinematic Universe. 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. Yes, CDs basically tanked because everybody realized, I want to listen to all the music, and I dont really want to pay for it. CDs were expensive. 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. We can talk. The iPod is out, but Apple is still saying, Rip. There have been countless stories of the ways in which being on the road is immensely unhealthy, and greater awareness of the ways in which its just really bad for ones mental health to be infinitely on the road and completely displaced. Many people are arguing for a pay-per-stream model. I think a lot of folks are looking to K-pop. Legal Statement. 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. 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. Were done. They had raised the prices when they went from vinyl and cassettes to CDs. So yes, there are other breakout stars, and there are more and more of them every single day. ", The singer added that she was investigating why the situation unfolded the way it did and how it could be improved in the future. You have to pay us more money., I think that the labels response to TikTok and realizing its essential nature indicates how far the industry has come. I think we have laid out a case now for the change that has happened in the industry and how Taylor Swift and her record releases fit into it and her disputes. You are having to convert people from place to place to place to place, and those platforms dont want you leaving. So many people have tried to launch live audio experiences. Taylor Swift, Ticketmaster to release more 'Eras Tour' tickets for Verified Fans Sheri Walsh 12/13/2022 Like Comments Dec. 12 (UPI) -- Taylor Swift gave Verified Fans some good karma. Greg Maffei, CEO of Liberty Media, opened up about the ticket fiasco during an appearance on CNBC's "Squawk on the Steet." According to Billboard, Ticketmaster still has 170,000 remaining tickets for the Eras tour and the company is gearing up to sell them to the lucky fans who previously received emails in the next four weeks. Nov. 11, 2022: Taylor Swift announces an additional 17 dates. We have three big labels now, but we had four at the time. She said she's "trying to figure out how the situation can be improved moving forward. "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," Ticketmaster shared Thursday on Twitter. (Gareth Cattermole/TAS18/Getty Images for TAS / Getty Images). 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. 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. They want to have a relationship with it. This was a religious war inside the tech and media industries. She was very hesitant to participate in the new digital era, calling out the ways in which it was set up to exploit artists. I think there are many places in the whole music industry, in all aspects of it, that are struggling. 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 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. A report from our colleagues at Vox showed that less than 10 percent of those artists that broke out on TikTok in the 2020 window have gone on to create a successful touring career with people showing up and buying tickets. Swifties reported website outages and hours-long waits only to log off empty-handed. You see why theres interest there. November 18, 2022 / 1:42 PM You had a whole different set of distributors, given that there were physical goods, but most of them have shut down. Its a little late in this episode. Harris dead at 31. That to me is the thing that might change it in the TikTok context. Once again, probably best not to get your hopes up. Charlie, this was great. 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. Li Cohen is a social media producer and trending reporter for CBS News, focusing on social justice issues. However, I am worried at at some point the transferrable button will be unavailable. "It's truly amazing that 2.4 million people got tickets, but it really pisses me off that a lot of them feel like they went through several bear attacks to get them.". I wasnt going to buy the nine-song record because CDs at my local Best Buy were very expensive. "You have no idea how much that means.". (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. FOX Business Flash top headlines for November 17. She eventually had to go to where her listeners were. People do not want it to be taken away from them and big tech companies know that. Look, man, I came up in an era where a guitar solo in a small, smokey room with 300 people is perfect. Those with Capitol One on-sale codes were rescheduled to buy tickets Wednesday at 2 p.m. local venue time. 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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. But you are the artist. That turned into a weird interstitial revenue moment for the industry. One thing that is very funny, as I look back on covering tech for the last 10 years, is how much user growth these companies achieved just by launching in additional countries. I was very budget-constrained at that point in my life, and I used to count the number of songs on an album to think about where I should put my money. "I never could have imagined how insane this whole process has been," one of Swift's fans, Amber Garis, told CBS Mornings. 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. The Capital One presale was also rescheduled for the following day. In total, the company explained, 2.4 million tickets were sold across the Verified Fan and Capital One sales on both Ticketmaster and SeatGeek. Her albums Fearless and Speak Now came out in this time of big disruption, with early streaming and people still buying records. 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. Image source: taylorswift. It should be more valued, but there is certainly money to be made. Thats the baseline expectation I think all of us have of the metaverse. I want to start all the way back then, with Taylor Swift in the CD era. "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. The big difference is that the whole industry was a physical goods business; as you said, people were buying CDs in stores. A podcast from The Verge about big ideas and other problems. Lets talk about the last $20 that the industry thinks it might be asking for. You went on tour to promote your CD sales and you let radio stations in this country play the music, effectively for free, because that would lead to CD sales. The sudden cancellation comes after Ticketmaster said Thursday that more than two million tickets were sold Tuesday for her upcoming tour the most ever sold for an artist in a single day. She wants to own every piece as much as she can, as long as this thing is still working for the rights-holders. Weve had some guests on to talk about why theyre doing it. One is the sound recording, called the master, which Taylor wants to own. It gets harder and harder to eke more dollars out of the rest of the globe. Just to put a cap on this episode, what are the markers you see of positive change? ", Swift concluded her note with a sign-off to her fans who weren't able to get tickets: "All I can say is that my hope is to provide more opportunities for us to all get together and sing these songs. 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. "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. Subscribe; . That to me seems like the most opaque part of this entire thing. It was just three years later that streaming became the predominant revenue source for recordings. Everybody gets it. I dont know if we prepped you for that. You would get a small proportion, 20 percent or less. I think this is a question I always have. (Fox News Digital / Fox News), Many fans sat in the Ticketmaster queue and were told they would need to start the process over. That is ultimately the place where youre most likely to be making your money. 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. 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. everything else your concert tickets, your merch, your NFTs, whatever it is. A desperate Taylor Swift fan who forked out over $5.5k to secure tickets to see her idol on tour has admitted to feeling that she no longer wants to go and 'regrets' the purchase I actually want to instruct the listener. Additionally, less than 5% of tickets had been sold or posted on the secondary market. Charlie, I think the algorithm might be better than you think. Now heres the thing. There are no founder-friendly music labels out there. 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. Nov 18 2022 by Eden Arielle Gordon. "Its a function of Taylor Swift. People are still buying songs for 99 cents on iTunes, and people are still buying CDs in order to rip them onto their computers. It has become the centerpiece of our social media. 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. How did that war play out in the beginning? From how the chaos ensued to the response it's provoking from lawmakers, here's everything to know about the debacle surrounding Ticketmaster and Taylor Swift's Eras Tour. TikTok is profound, and it has very meaningfully shifted what is happening in music. They were more expensive, so bands would have a one-hit single and a CD full of crap. 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. Thats Decoder everybody. We have seen tech stocks everywhere struggling. 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. There is opportunity for someone to do something very creative and disruptive.. It wasnt at its lowest, but it was dropping quickly. 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. Spotify is the only major streamer that is not subsidized by a larger tech company. Thats where we should come to now. Everyone was putting their albums on streaming, and people were having a great time exploring Spotify. But that share of the 100,000 songs a day that are being uploaded to Spotify from artists that are just getting going, I think a lot of those might actually never even come close to collecting $20. You have no idea how much that means.". We no longer have our Virgin Megastores selling all of our CDs to us, or Tower Records. Just by Googling the name of the song, you can probably find a way to listen to it. Its just that you cant do so in a way where there is the cost of creation and youre properly paying people for their work. What Im getting at is that the marketing funnel is really hard. 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. If the songs are just marketing for tour tickets, then you should put the songs everywhere you can all the time. 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. I dont like this.. 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. 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. Where is Xbox Music? "It obviously wasn't meant to be if we didn't get tickets but we're upset. The tour is set to kick off in Arizona in March and wrap up in Los Angeles in August. 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. Everyone knew getting tickets for Taylor Swift's The Eras Tour was going . Taylor Swift is speaking out amid the controversy surrounding Ticketmaster's handling of her upcoming "Eras" tour. That is true. Vinyl is a small but meaningfully growing share of the music revenue pie. EMI was eventually bought by Universal, so there was a lot of consolidation on the label side. I dont know. I wasnt going to make playlists. Charlie was like, Well, there are two parts of the song. I think that they were smart to chase what the people were doing. It was an interesting era to launch a music career, because it really was towards the death of the CD era. The saga started back when Swift first announced she was going on tour following the release of her 10th studio album, Midnights. Shes currently re-releasing all of her old albums. Listen to Decoder, a show hosted by The Verges Nilay Patel about big ideas and other problems. Its part of the great scheme. That is not at all how it works. I got them throught Ticketmaster. They get early options in Spotify and they get guaranteed payments per year early on, so theyre certain that many millions of dollars are going to come into their coffers, even if no one listens to the service. But yeah, definitely. The question is, do we keep listening in this way? They just had to figure out how to monetize it. / CBS News, Taylor Swift is speaking out amid the controversy surrounding Ticketmaster's handling of her upcoming "Eras" tour. According to a Ticketmaster release, fans who received the email will receive a separate invitation where they can submit a purchase request to Ticketmaster by Dec. 23. That means I should be able to sell them no problem here. "I never could have imagined how insane this whole process has been," one of Swift's fans, Amber Garis, told CBS Mornings. "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. Metallica: famously unhappy about the internet. Thats why they want to do podcasts and why they have original videos. They dont have exactly that license right now, as far as I understand. By Kaetlyn Liddy. On Nov. 18, Swift spoke out about the fiasco in a message to her fans via her Instagram Story. (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. Right? Not just because of this holdup, but because they realize that this is the place where they are going to monetize. 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. Its happening at Warner Discovery. 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. Thats for sure. The demand "could have filled 900 stadiums," he said. She has inhabited a lot of them and been able to go with the changes in a way that many artists have not. The New York Times reported that the Justice Department was looking into whether Live Nation Entertainment, the parent company for Ticketmaster, has abused its power in the music industry. I live in the best city for it," said Amy . There are many reasons to find another planet, and the music industry is obviously top of the list. There are many versions of this story. "UM. When fans eagerly showed up to try and purchase tickets on Nov. 15, however, they were met with a litany of issues on the Ticketmaster website. She didnt want to participate in that model. ", "I'm not going to make excuses for anyone because we asked them, multiple times, if they could handle this kind of demand and we were assured they could," she said. Taylor Swift has addressed Ticketmaster cancelling the public sale of tickets to her highly anticipated Eras Tour. They are now the distributors of music. Since that time, hundreds of thousands registered for the right to purchase tickets days earlier than otherwise available through Ticketmaster. She was the product of a Nashville system and she did not have a built-in fan base when she released her first record. 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. I mean, it is important to note that the entire music catalog is not available. Then we are compelled to talk about NFTs and other glimmers of change that might be coming. I was immediately skeptical during the lockdown period in which all of a sudden everybody in music was like, You have to join this live chat. Okay. 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. You want to own the most amount of that master recording as you possibly can. Verified fans were given codes to enter the Ticketmaster pre-sale on Tuesday, but many claimed their codes did not work. Its long gone. Taylor Swift fans who are registered as "verified" may have a second shot at tickets to her "Eras Tour" as Ticketmaster tries to make things right after its website crashed last month amid an onslaught of orders. I think Dua Lipa has been on tour for five years. Spotify has to make it on its own. I have to say, Im not following it too closely because its such a complex ecosystem. Its just, Click on this one instead of that one, and her fans are all doing it. LOS ANGELES, CA Trying to buy Taylor Swift tickets for the Eras Tour? Many would say that one of the things that streaming has done is it has created a situation where there are forecastable, projectable revenues that say, Hey, this is how many people are listening to this music. Your job was to perhaps show up, perform songs, and work on your image. This is just part of a much larger trend of the financialization of music catalogs. The plaintiffs, who are seeking a penalty of $2,500 against the company for every violation of Business and Professions Code section 17200, additionally claimed that Ticketmaster "intentionally and purposefully mislead ticket purchasers" by permitting "scalpers and bots" to access the presale. Taylor Swift on Friday responded to fan frustration over the botched presale for her upcoming "The Eras" tour which led to Ticketmaster's decision to cancel the public sale of tickets. 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. Do they know that their business is out the window? Taylor Swift is speaking out amid the controversy surrounding Ticketmaster's handling of her upcoming "Eras" tour. Apple Music is going to be fine because the iPhone is fine, right? I am here for it. From the listeners and the artists point of view, its like, What? Taylor Swift performs onstage during her "Reputation" stadium tour in Arlington, Texas, on Oct. 5, 2018. 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. What do you think a label is looking for? Sign up for free Patch newsletters and alerts. Music listening may be seasonal. There are no artists making billions of dollars through streaming as far as Im aware, but that said, there is certainly money to be made. Ticketmaster cancels Taylor Swift public ticket sales due to demand and 'insufficient' supply. The utility of it, I think, is lacking. Do you think she, as an artist, understood that this change was coming and was changing her strategy? All Rights Reserved, By submitting your email, you agree to our. It is not easy. All rights reserved. We now live in an intellectual property business, where a lot of these things are never actually even printed. It fuels trends that are observed by billions of people within days. <p>Taylor Swift | Era's Tour | 1st Floor Ticket | With It's Been A Long Time Coming VIP Package| Los Angeles 8/8. I mean Charlie Puth was a YouTuber. That is a monopoly. In their suit, Swifties claim Ticketmaster tacitly encourages scalpers because the company gets paid fees every time tickets are resold. "You have no idea how much that means.". "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. Shes not asking them to buy the record again. All presale codes and links sent via text will still work at that time, they said. Taylor Swift is a beloved performer and getting tickets to her concerts can be a real headache sometimes. The greatest hits record is a really interesting example. Its tenuous. Its very challenging to be able to make a living without streaming hundreds of thousands of songs. Streaming is currently very much still a part of that. Earlier that morning, Liberty Media CEO Greg Maffei (Liberty owns part of Live Nation, of which Ticketmaster is a subsidiary), had blamed the situation on the "massive demand" for Swift tickets during an interview with CNBC. Taylor Swift Makes Surprise AMAs Appearance in Golden Jumpsuit and Shouts Out Blake Lively! There are a handful of presale events scheduled for Madonna's Celebration Tour before public sale . There have been 20 years of the streaming business. 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. "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. AI tech companies come at me, fine, whatever, but its not a tech business. Then you just have to hope that people are going to show up. First published on November 18, 2022 / 1:42 PM. What happens after you submit a ticket request? You just have to front the money to put that on, and the army of semi trucks, grips, lighting techs, and all the people to do it. What was the structure of the industry in the 2000s? Its funny, I obviously think of him as a TikTok artist, but hes actually a blanket, ubiquitous, everywhere-in-media artist. 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. Ticketmaster canceled last months general public sale of Swift tour tickets after seeing historically unprecedented demand at its presale events. Thats what Im saying. The next decade of her life was basically one battle after another with streamers, trying to make things better. I want it in bigger places. Vinyl is a small but meaningfully growing share of the music revenue pie.. 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. 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. High demand for Taylor Swift concert tickets led Ticketmaster to delay the West Coast pre-sale. If music was working, you could keep leaning harder into it, but its not the future of that business. There are public funds now where you can invest in music publishing. They were a manufacturer in a way that a label today is not. There were some smaller versions of this business that launched in the United States RIP Rdio, which was a Verge favorite. Obviously, with an NFT, you dont have to front the cost of a tour and you dont have to manufacture clocks. 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. You are entering a deal where you are hopefully successful and then funding all of the other things that are not successful. She got into a fight about Apple Music, but now shes one of the faces of Apple Music. I mean, it puts us a bit more into the world and conversation of content creators. Are there going to be another 20? Especially smaller artists that cant front the money for a huge spectacular stage show. The thing that we are looking for is which breakout viral successes from TikTok will turn into a multi-decade career like Taylor Swifts. Theyre like, Great, we know that revenues are growing. Ticketmaster still has 170,000 Taylor Swift Eras Tour tickets after its canceled general sale for the tour. There has been a realization that many of these streaming platforms, which had been valued as tech companies, are actually just digital media companies, and theyre trying to figure out how to pull in revenue after a decade of growth that has been funded by low interest rates and the natural business cycle of streaming. If were at this moment in a 20-year cycle where everyone is unhappy with how this model is working, outside of probably the labels, then there is opportunity for someone to do something very creative and disruptive. But culturally? It grew to be the whole market. 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.. 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. Theyre just not getting any streams, and by the end, when its all divided out, very little revenue comes to Guns N Roses. It is fascinating to me that she is able to pull it off in this way, because there is no secondary transaction. You still have the music on streaming, but she also has a tour that everybody is dying to see. Then when they ran out of countries, their growth stopped. 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. Its the only way that you can hear these songs. ", Ticketmaster then explained their Verified Fan process, which is tasked with "identifying real humans and weeding out bots." She was upset about the low streaming rates that youre talking about. 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. We have to talk about music licensing. Here's how it plans to handle selling them. Heres how I think most people think their streaming subscription works. Notified fans will receive their individual invite to submit their purchase request prior to Friday, December 23. 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." Lets talk about the future of music now, and the new trends were seeing, the things that are coming next. Now she has a massive fan base that she commands. The singer's team has announced that some verified fans who weren't able to buy tickets last month will get a second chance. "You were selected for this opportunity because you have been identified as a fan who received a boost during the Verified Fan presale but did not purchase tickets," it continued. And its getting harder because all of these things are marketing funnels for other places. 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. At the request of Swift's team, the ticket seller said on Monday that . Im not betting against streaming and Im not betting against music, but the business model itself feels like it is one that is certainly not sustainable in the extremely long term without either raising prices a lot, creating magic user growth by finding another planet of humans that havent subscribed to a service yet, or some other miracle that I dont understand. The music that we are able to listen to is music that can be monetized. 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. So Spotify launches in Europe, and what they sell you is convenience. Thats actually maybe the most interesting piece of the TikTok puzzle, the Instagram Reels puzzle, and the YouTube Shorts puzzle. Subscribehere! 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. I mean, its like the bigger internet story, in that you can find more interesting, beautiful, and special little things. The music industry has certainly bet a lot of its time there. Its not the nicest ocean to swim in. Which is NFTs. So Taylor Swift puts out her first CD in 2006. If chosen for the presale, fans were sent. You dont have a streaming service unless you have all the music. 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. (Fox News Digital / Fox News). She has not yet had to make that turn, but the midline artist is desperate for the next thing they can sell. It was probably very difficult for an indie artist, because distribution was more challenging then. 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. She is the centerpiece of actual demand from a very passionate fan base, and instead of pointing that fan bases demand at merch or whatever, she points it at music making. Leading the charge is Utah interior designer Julie Barfuss, who tweeted last month that she spent more than nine hours on the SeatGeek site attempting to buy Swift tickets. So I think something could happen there. ", Taylor Swift fans were disappointed in the experience with Ticketmaster. 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. Theres huge supply strain constraints. So not all the music, but effectively. You go to the store, you spend $20 to buy the CD. of residency or put Taylor . If and when virtual reality becomes a compelling, mainstream product for many, many people, music will certainly be at the centerpiece . "It obviously wasn't meant to be if we didn't get tickets but we're upset. Its simple, it makes sense, its great for indie artists who are often devalued, and its great for fandoms to make sure that their money is really going to the people that theyre listening to. As the lucky fans who were selected for the presale attempted to join the waiting room queue for tickets, Ticketmaster is reportedly crashing on many people's devices. 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. I mean, well find out. 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. Powered and implemented byFactSet Digital Solutions. She is very online herself, for better or worse, and she understands the rhythms and the dynamics of her fandom and how it interacts with other fandoms. They just get put out for digital distribution. "I Waited 5+ Hours In The Ticketmaster Queue": Teen Is Accused Of Ruining Wedding After She Refused To Give Her Ticket To Taylor Swift's Concert To The Bride . Invites will also be staggered by tour dates in each city. I mean, come on, Blockbuster? Ticketmaster has canceled the public sale of Taylor Swift's "The Eras Tour" after high demand in the pre-sales. I want to sell my TS Eras tickets here on stubhub. I think every artist has always thought that their label takes too much money. Swift said there was "a multitude of reasons" why people had "such a hard time trying to get tickets" and is trying to figure out how to "improve" the disastrous rollout moving forward. Get browser notifications for breaking news, live events, and exclusive reporting. We should just do a mashup of that sigh across all episodes. I could probably name a bunch of 90s bands here, but I think were already at risk with the Taylor Swift fans. We have seen the massive devaluation of Netflix. At the current moment, there is a lot of unrest about how much people are getting paid, especially when the average rate per song in streaming is declining for artists, and has been for many years. Ticketmaster cancels general public sale of Taylor Swift tour tickets. What Spotify is going to figure out is how much money came in from all of those subscriptions every single time period, and then theyre going to take that and divide it by all of the listening of everybody, such that Taylor Swift is going to get paid based on, Does she command the highest amount of listening on Spotify overall? Nilay, I know you love Guns N Roses. Spotify then launched in the United States in 2011. Its at a height, but its a height that feels like it cant keep going up. Thank you for wanting to be there. There are still lots of experiments out there, but it seems like it might have been a little blip in the pan when everyone was bored at their house during the worst parts of lockdown. 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. Its this massive spectacle, the Future Nostalgia Tour looks amazing, but shes like permanently on tour. AP Taylor Swift at the MTV Europe Music Awards Nov. 13 in Duesseldorf, Germany. A general sale was then planned for Nov. 18 for fans who didn't receive a Verified Fan code or have a Capital One card. 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. 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. Mix. In response to the presale fiasco, more than two dozen Swifties teamed up and filed a lawsuit against Live Nation Entertainment. It is being monetized, and there is a lot of money flowing. In 2014 to 2017, this was kind of the height of Taylors fight with the streamers. 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. While appearing on The Graham Norton Show, the "Bejeweled" singer first teased an upcoming tour tied to the release of her latest album. Does that stuff seem viable to you? That helped persuade me eventually, but most of us were just trying to listen to everything that we wanted whenever we wanted. This material may not be published, broadcast, rewritten, or redistributed. Thats all flipped now. It thinks the Switched on Pop TikTok account is an in-recovery smoker who is really into a bunch of very dated movie references. 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. "We had 14 million people hit the site, including bots, which are not supposed to be there.". Lets just be more explicit about that to make it really clear for people. A lot of the best people in this business are able to secure the most advantageous contracts, though often very exploitative ones, and there has been no shortage of those throughout the entire history of recorded music. They have been pretty obvious and pretty explicit with their own investors that renting music from labels and then selling it for pennies is not a great business model. Microsoft has failed a few times. I want to talk about that conversion funnel real quick. Welcome to the business show, Charlie. The logic of it makes sense. Taylor Swift performs on stage during her "Reputation" stadium tour at Wembley Stadium in London on June 23, 2018. I had a boost email from TaylorNation, she wrote. 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. 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.". 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. She was acting as a voice for a number of quite unhappy folks at that time. Taylor Swift fans sue . The era of the unknown, unsigned person who has not been on social media being discovered by a major label is over, unless youre a famous person or nepo baby. Li Cohen is a social media producer and trending reporter for CBS News, focusing on social justice issues. I was talking about this with my friend Charlie Harding, the co-host of Switched on Pop, and he said that he thinks the upcoming Taylor Swift The Eras Tour is itself the end of an era in music that the age of cheap streaming services is coming to an inevitable conclusion and that something has to change in order for the industry to sustain itself in the future. You pay them the fee, and then you have access to an all-you-can-eat buffet of all the music in the world. FAQ - New Privacy Policy, Check out what's clicking on FoxBusiness.com. Update 11/16/22 Taylor Swift Eras Tour Capital One Cardholder Presale Wednesday, November 16 | 2 p.m. local venue time To best access the Taylor Swift Eras Tour Capital One Cardholder Presale ticket queues, fans should log into their Ticketmaster account and click on the link for your preferred dates below. "Tennessee Attorney General Jonathan Skrmetti is concerned about consumer complaints related to @Ticketmaster. 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. "First, we want to apologize to Taylor and all of her fans especially those who had a terrible experience trying to purchase tickets. Instead, what they do is they give out a proportion of their revenues. Shes doing things that are pro-artist and pro-songwriter, but they are a bit more on the margins. No offers below $2500. . 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. But the labels, they navigate it. Thank you for your patience as we continue managing this huge demand.. She certainly wants to own this asset for the amount of money that can be made in streaming. Theres publishing and this, et cetera Its the exact same sigh when people have to explain NFT copyright. When you visit this site, it may store or retrieve information on your browser, mostly in the form of cookies. Unfortunately, a lot of them dont then translate into fan bases that will come out and buy tickets to shows. "I'm not going to make excuses for anyone because we asked them, multiple times, if they could handle this kind of demand and we were assured they could. Santigold, Shawn Mendes, Animal Collective, theyre all complaining like, This is too much. Well, yeah. 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. I did everything the way they asked. Thats a whole other show that we can get to some other time. The labels go along with this because functionally, they have no choice. The Midnights singer's loyal listeners have taken the company to task after the ticket-buying process for her upcoming Eras Tour resulted in chaos. Apples basically saying, Listen, in order to launch a streaming service, we need a ton of users. But yes, you were promoting the thing that you could sell. Many fans sat in the Ticketmaster queue for hours waiting to get Swift tickets. But yes, its just another place where the economics are not in the favor at all of the people producing the material. Things that blow up on TikTok go to Spotify, and things that are streamed on Spotify then go onto Billboard charts. I mean the musicians, yeah. Then she was like, I have a new record, but if you want to listen to it, you have to pay for it.. I dont have insight into her taxes, but obviously she has done movies and she has brand endorsements. Please enter valid email address to continue. It was the labels job to promote you, manufacture CDs, truck those CDs to stores all over the country, manage their relationships with physical media, and distribute it. Taylor Swift | The Eras Tour See Tickets Mar 25 Sat 6:30pm Allegiant Stadium - Las Vegas , NV Taylor Swift | The Eras Tour See Tickets Apr 13 Thu 6:30pm Raymond James Stadium - Tampa, FL Taylor Swift | The Eras Tour See Tickets Apr 14 Fri 6:30pm Raymond James Stadium - Tampa, FL Taylor Swift | The Eras Tour See Tickets Apr 15 Sat 6:30pm They give you the movies that they have licensed, then things just disappear and you no longer have them. Probably the most effective thing that she has done is wage this ongoing war to raise awareness that this whole thing is not fair, such that maybe when you go to listen while youre streaming, you still have a little bit of that ick feeling you might have had if you were on Napster 20 years ago like, I dont know if I should be doing this. Of course its legal now, but she has helped us question exactly how ethical it is when there is so much exploitation. Theyre making a really big gamble about their future. 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. 2022 CBS Interactive Inc. All Rights Reserved. "We have already seen that Ticketmaster cannot arrange a pre-sale," she said. Shes saying, Heres Speak Now (Taylors Version), off we go, and now her fans have instant access. You and some of your listeners can dispute this, but music is not a technology business. You can be paid out in hundreds of millions, billions of dollars. Maybe I dont know myself. Break them up," she tweeted. ", 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. I interviewed the artist Tai Verdes a year into the pandemic and he broke out his entire career on TikTok. 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? Even before ticket sales kicked off, the demand for Swift's upcoming tour was high so much so that the Midnights singer added an additional 17 performances, bringing the total to 52 shows. Ringtones was one of them. Thats why Im saying its way more than TikTok. It literally is the same. She has four versions of this album that make a clock, and you have to buy all four copies on vinyl. A fan who had been sent a verified code was told the Ticketmaster account wasn't linked to the Verified Fan sale. Were looking at Taylor Swift and using her career to chart us through this era. Where is Groove? Its just like, Youre going to have to deal with it.. In 2020, you could have one breakout song that had hundreds of millions of streams on it on TikTok. I love having you on the show. 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. 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 . Given the success of Midnights, Swift's overall popularity and the fact that the singer-songwriter's previous tour had been canceled due to the pandemic, Eras was immediately projected to be the hottest ticket of the year. In addition to a lawsuit filed by over two dozen fans against Live Nation Entertainment, Ticketmaster's parent company, the Swifties are taking their complaints against Ticketmaster all the way to D.C. 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. All 2 million tickets for the Verified Fan onsale were sold to Verified Fans. There are hundreds of people who have been signed now off of the platform to label deals. I was a verified fan. They were the dominant form of revenue. The 33-page lawsuit was filed Friday in Los Angeles, attorney Jennifer Kinder told The Post. If youre a music label, youre almost like a venture capitalist. You kept more of your revenues if you own your music, youre always better off but it was much more challenging as an independent. No tickets and a card I cant use.. People arent getting paid enough. Ish? I dont think so. Its obvious. Taylor Swift is known for planting Easter eggs and all the visuals match up in interesting ways, but in the world of K-pop, there are concepts and character arcs that last over many albums. Everyone is mad at Ticketmaster, and like, Dua Lipa needs to go home. 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. She was like, Im not doing that. Then thats why she ends up crashing Ticketmaster, because she understands exactly how to leverage those fans into tickets. Depending on the deal with your label, you might only be seeing fractions of a fraction of a penny by the time it gets to you. 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. Update: On Thursday, Nov. 17, Ticketmaster tweeted, "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.". People use these platforms to hopefully up-level off of those platforms into places where they can secure more acclaim, revenue, et cetera. Fans had until Nov. 9 to register for the Eras presale through Ticketmaster's Verified Fan program. 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. We dont need a bunch of 90s alternative band stans coming after us, but you could throw a dart at your average radio smash 90s act and their album would be full of a bunch of filler. Ticketmaster, based in Beverly Hills, crashed shortly after 10 a.m. Tuesday after reporting historically unprecedented demand, with "millions of fans" showing up to buy tickets for the TaylorSwiftTix Presale event. I followed their instructions, logged on early, using my laptop (not a mobile device), waiting a LONG time (like everyone else), finally got in and it was a bloodbath., She continued: Grab tickets as fast as I could, go to purchase them only to be told someone else got them first, FINALLY got tickets in my cart, only to have the site crash, got thrown back in the queue, could not get a transaction to go through.. 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. It's been a long time coming .". Getty Images We were five years into the iTunes era at that point. ", Taylor Swift's 10th studio album, "Midnights," was released on Oct. 21. If you are doing well later in your career, you might say to the label, Hey, before I renegotiate a deal with you, I would like to own my masters not only of my current catalog, but also my back catalog, because all my fans still listen to all of that music. Many artists will do this, renegotiate their deals, get better rights, and so on. Shes a great musician, shes also just very good at making money. Thats the other thing I want to stipulate. She has certainly raised awareness, but yeah, all of her music is on the streaming platforms. </p> 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. 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. So moving outside of the $1 million NFT to the $20 NFT, maybe there is an opportunity for more collectible items in this sense. "Even our competitors want to come on our platform. 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. Right. This is what I keep coming back to. Go make a record. We have settled the most important debate: Is David Hasselhoff rich in Germany? Since it cannot sell music in that one-to-one transaction, it is forever on the hunt for the $20. Taylor Swift has mastered this inversion, creating demand for her actual physical albums, merch, and her tours. That just seems very untenable to me. Taylor Swift released her first album in 2006. . Presale codes were then sent out to 1.5 million potential ticket buyers, while the remaining 2 million people were put on a waitlist. Get browser notifications for breaking news, live events, and exclusive reporting. Now theyre saying, You need a following. How did Spotify do at that moment? The most exciting thing in music is that people control more of their destiny. Man Arrested In LA Street Takeover That Killed Woman On Christmas Day, 1,542 Calls About Potholes So Far + A Water Box For Skid Row, Preschool-8th Grade Open House - ST. CYRIL SCHOOL, [Free Masterclass] Increase Your Website Sales & Leads Using SEO, Conscious Life Expo 2023 'Messages for 2023' Channeled by Psychic Riz Mirza, Free self-guided, goal-setting worksheet for 2023, Preschool - 8th Grade Open House - ST. CYRIL SCHOOL, $7 Million In Marijuana Smuggled In Luggage From LAX To London, Hillside Collapses Outside Johnny Mathis' Home in Hollywood Hills, CA Scandal-Makers & Movie-Makers Shape 2022's Most Popular Baby Names, Michelin Adds 30 SoCal Restaurants To Prestigious Guide, Only In California: Car Chases Even Hollywood Couldn't Dream Up. 2022 CBS Interactive Inc. All Rights Reserved. Thats going to happen. 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.". michael peluso married, gemma costin pete bennett wedding, specific heat of beer, when did compton became ghetto, sacramento high school football teams, the histogram shows the birth weights of 1000 mice, flatbush the heart of brooklyn, roz wiseman paul ince, challenges faced when using fuels at home, how do i contact wendy's customer service, rich caniglia married, drum corps associates 2022 schedule, jeffrey gunter ambassador, graham county, nc property taxes, westin boston waterfront room service menu,

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