November 18, 2022 / 1:42 PM Let us know when you do in comments. She didnt want to participate in that model. So, critically, Spotify is just deeply linked to the major labels. 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. This is why tech companies want to own this asset, even if they cant really monetize it that successfully. You heard it here first. 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. 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. ", "It goes without saying that I'm extremely protective of my fans," she said. That revenue was going to the labels, not the artists. The Ticketmaster site was not prepared for the volume of Taylor Swift fans logging on for Tuesday's verified fan presale. So not all the music, but effectively. We no longer have our Virgin Megastores selling all of our CDs to us, or Tower Records. Harris dead at 31. Its very possible that someone might need this company because with music, to your point, you cant bet against the internet. 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. But the labels, they navigate it. 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. Did you get your tickets yet? Its something that you already briefly mentioned, which is that people are developing their own audiences before they ever go to a label and sign a deal. Ticketmaster cancels Taylor Swift public ticket sales due to demand and 'insufficient' supply. 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. Look, I recognize that it is beautifully made music. It didnt work for everybody, but for the biggest artists, it worked really well. Onsale Dates and Times TaylorSwiftTix powered by Verified Fan Starts Tue, Nov 15 @ 10:00 am EST Ends Thu, Nov 17 @ 10:00 pm EST 55 days ago Aisle Seat Verified Fan Presale Starts Tue, Nov 15 @ 10:00 am EST Presale codes were then sent out to 1.5 million potential ticket buyers, while the remaining 2 million people were put on a waitlist. It was an interesting era to launch a music career, because it really was towards the death of the CD era. The company did not say whether more tickets would be sold for the tour at a later date. I want to talk about that conversion funnel real quick. Now theyre saying, You need a following. 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. 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. By Kaetlyn Liddy. I think thats the thing that leads to lasting impact. Ticketmaster still has 170,000 Taylor Swift Eras Tour tickets after its canceled general sale for the tour. This is the story of big content creators that has been coming out over the years of how actually truly demanding it is. There are just endless ways in which people have gotten the short end of the stick here, and she wants to have the biggest stick in the game and own as much of her music legacy as she possibly can. 2023 CBS Broadcasting Inc. All Rights Reserved. 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. Will Austin Madonna tickets mirror Taylor Swift Ticketmaster . 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. While appearing on The Graham Norton Show, the "Bejeweled" singer first teased an upcoming tour tied to the release of her latest album. Shes an amazing songwriter. I mean, we are putting that in the metaverse right away. The first leg of the tour will be in stadiums across the US, with international dates to be announced as soon as we can!" TikTok is profound, and it has very meaningfully shifted what is happening in music. That is not what Taylor is doing. Actually the last half hour of this episode is you just doing a solo. 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. Touring is certainly doing really well for her. Taylor Swift released her first album in 2006. . She had bumps along the road doing so. Verified fans were given codes to enter the Ticketmaster pre-sale on Tuesday, but many claimed their codes did not work. I didnt want to rent, and I wasnt into the streaming thing. Maybe I dont know myself. ", "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. 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. Well, thats what she appears to have mastered, especially with Midnights and this new tour. "It obviously wasn't meant to be if we didn't get tickets but we're upset. Taylor Swift's Eras Tour is on track to sell $591 million in tickets leaving Ticketmaster with a relative pittance and buckets of bad PR . "We had 14 million people hit the site, including bots, which are not supposed to be there.". Now she has a massive fan base that she commands. 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. 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." What you do is you say, Hey, were going to give you a little bit of an advance. And that is true; I am on guitar solo TikTok. You have to enter the content creator world and build your identity off that. "We will sometime soonish. The expectation from the fans now is that youre going to mount a spectacle. Taylor Swift has found the $20 in selling clocks, shoes, and all of the other stuff that shes managed to sell, and now very expensive tour tickets. The industry is very mad at Apple for this, but the iPods ascendancy is there. That is not at all how it works. For all the other people who are listening to playlists and keeping music on in the background forever, those people are potentially diluting the listening of fans who only listen really closely to one artist for an hour or two a day. Several pre-sales events are planned ahead of Madonna's holiday tour before the public sale begins, which Becker considers a bad sign. 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. Taylor Swift fans are ushering in a new era for Ticketmaster. Youre not going to get the US consumer everywhere you go around the world. She said she's "trying to figure out how the situation can be improved moving forward. 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? In 2014 to 2017, this was kind of the height of Taylors fight with the streamers. This is just part of a much larger trend of the financialization of music catalogs. Then theres the next stuff, like the actual threats. "First, we want to apologize to Taylor and all of her fans especially those who had a terrible experience trying to purchase tickets. 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. I think that in continuing to connect with fandoms, there is always going to be a world of people making music and playing music for people because we love human connection. "This exceeded every expectation," Maffei explained. In 2020, you could have one breakout song that had hundreds of millions of streams on it on TikTok. "Thank you for wanting to be there," she said. All those folks who had secured really great deals and contracts, and who were making lots of money, were very upset by the piracy that started to take place around 2000. The Post reached out to Ticketmaster for comment on the lawsuit. All of the movie streamers do not give you all the movies. 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. Taylor Swift performs on stage during her "Reputation" stadium tour at Wembley Stadium in London on June 23, 2018. 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. But I dont know if the music industry understood that it was gambling away its future in that way. Then we are compelled to talk about NFTs and other glimmers of change that might be coming. 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. But the model of getting that $20 from touring isnt working for everyone. If 20 years ago there was a, No streaming ever, were only ever going to sell CDs, to the, I dont want to hear a minute-long test version of a song, before you buy it on iTunes, there was a lot of holding back of their intellectual property. Do Guns N Roses get $0? I dont know if we prepped you for that. 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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. That just seems very untenable to me. The last thing I want is the Fleetwood Mac army coming for me. Taylor Swift performs on stage during her "Reputation" stadium tour at Wembley Stadium in London on June 23, 2018. You dont have a streaming service unless you have all the music. The tour, which will be a "journey through the musical eras" of Swift's career, is set to kick off next March in Arizona. 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. Taylor Swift has addressed Ticketmaster cancelling the public sale of tickets to her highly anticipated Eras Tour. 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. Everybody gets it. YouTube is going to be fine because Google exists. 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. Just to put a pin in it, highlight it, circle it, bold, italic, and underline that inversion. It just created a sensation, but it was a huge, expensive stadium tour. In. This doesnt make any sense.. There was some weirdness with it, but the artists seemed happy with that arrangement. I was a verified fan. Thank you so much. 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. You understand the value exchange there, even if the label is taking too much money. 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. Image source: taylorswift. The logic of it makes sense. 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. They were a manufacturer in a way that a label today is not. It seems as though Ticketmaster should've known that arguably the . "Even when a high demand onsale goes flawlessly from a tech perspective, many fans are left empty handed. They wont stop being around me, and its TikTok. Thats actually maybe the most interesting piece of the TikTok puzzle, the Instagram Reels puzzle, and the YouTube Shorts puzzle. The utility of it, I think, is lacking. You can just make a copy of a digital object and sell it again. Part of what youre saying, Nilay, is that music is more valuable than it has ever been. Its just, Click on this one instead of that one, and her fans are all doing it. That is a huge part of why Apple is betting on Atmos. Sign up for free Patch newsletters and alerts. The thing that we are looking for is which breakout viral successes from TikTok will turn into a multi-decade career like Taylor Swifts. Taylor Swift is speaking out amid the controversy surrounding Ticketmaster's handling of her upcoming "Eras" tour. Thats going to happen. High demand for Taylor Swift concert tickets led Ticketmaster to delay the West Coast pre-sale. In a previous statement, Ticketmaster said more than 3.5 million people pre-registered for verified fan, the largest registration in the companys history. 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. Its at a height, but its a height that feels like it cant keep going up. Get browser notifications for breaking news, live events, and exclusive reporting. One, I think we both very much like Taylor Swifts music and we think shes a good musician. There are many versions of this story. Especially smaller artists that cant front the money for a huge spectacular stage show. 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