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. Mix. 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. Everyone was putting their albums on streaming, and people were having a great time exploring Spotify. She knows that super fans will buy not only vinyl, but also the super deluxe vinyl version of the collectors thing and blah, blah. In many ways, she is at her height and shes still breaking records on charts. This whole episode actually started because our team was talking about Taylor and her masters. I mean the musicians, yeah. Thats where we should come to now. A second presale for Swift tickets set to begin at 2 p.m. this afternoon has now been rescheduled for the same time tomorrow. Her career is definitely a good case study across the last almost 20 years. So Taylor Swift puts out her first CD in 2006. ", Senators Amy Klobuchar and Mike Lee announced that a U.S. Senate antitrust panel will hold a hearing "to examine the lack of competition in the ticketing industry. So not all the music, but effectively. 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. Make no mistake: Ticketmaster deserves the scorn that it is currently receiving from Taylor Swift's listenership, a population of such size and power that it probably merits a spot in the. She certainly wants to own this asset for the amount of money that can be made in streaming. 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. She was like, Im not doing that. No tickets and a card I cant use.. I mean, its like the bigger internet story, in that you can find more interesting, beautiful, and special little things. That whole thing doesnt make sense. There have been 20 years of the streaming business. Are there going to be another 20? Then thats why she ends up crashing Ticketmaster, because she understands exactly how to leverage those fans into tickets. I mean Charlie Puth was a YouTuber. 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. 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. People arent getting paid enough. Especially smaller artists that cant front the money for a huge spectacular stage show. 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. Taylor Swift fans were disappointed in the experience with Ticketmaster. Taylor Swift is a beloved performer and getting tickets to her concerts can be a real headache sometimes. In 2014 to 2017, this was kind of the height of Taylors fight with the streamers. Now every single time that people stream these songs, she gets more of the share of that stream if they listen to Taylors version. Steve Aoki told us why hes doing the Aokiverse. There are some very meaningful, projectable revenues that can be made if you own all of your recordings, so she is taking those actions. 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. She said she's "trying to figure out how the situation can be improved moving forward. Unfortunately, a lot of them dont then translate into fan bases that will come out and buy tickets to shows. The tour, which will be a "journey through the musical eras" of Swift's career, is set to kick off next March in Arizona. They cant control their costs. . Its like, Ugh. People often want to be mad at Spotify, and there are very reasonable objections to be had, but Spotify is right to say that they pay out billions of dollars per year to rights-holders. "Well. Will Austin Madonna tickets mirror Taylor Swift Ticketmaster . Colleagues of ours at Vox had a great story about the TikTok to Spotify pipeline. ", "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. You pay them the fee, and then you have access to an all-you-can-eat buffet of all the music in the world. Actually the last half hour of this episode is you just doing a solo. It's truly amazing that 2.4 million people got tickets, but it really pisses me off that a lot of them felt like they had to go through several bear attacks to get them. 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. They already have leverage. Per the release, ticket prices ranged from $49 to $449, with VIP packages going for $199 up to $899. It was hard to get national or global distribution without a label. "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. That turned into a weird interstitial revenue moment for the industry. 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. If music was working, you could keep leaning harder into it, but its not the future of that business. He creates whole media cycles off of the things that he makes. 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. 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. 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. And its getting harder because all of these things are marketing funnels for other places. She is unusual in that the length of her career spans from the end of the CD era into the streaming era. Shes a great musician, shes also just very good at making money. I mean, you cant take that away. Ticketmaster cancels general public sale of Taylor Swift tour tickets. 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. But because of the structure of the industry, that relationship has all but disintegrated. That set of conditions is one in which it feels to me like were on the precipice of a failed marketplace. 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. On the day the canceled general ticket sale was supposed to occur, Ticketmaster issued an apology to Swift fans along with a lengthy explanation about what went wrong during the presale. Invites will also be staggered by tour dates in each city. No, because its the total amount of listening. 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. Theyre past their prime. Swifties reported website outages and hours-long waits only to log off empty-handed. It might be undervalued financially, but in terms of value as humans, it is so essential to us. Cookies collect information about your preferences and your device and are used to make the site work as you expect it to, to understand how you interact with the site, and to show advertisements that are targeted to your interests. If the point of the big streaming inversion was, Were going to move the $20 transaction from you paying for the song to you paying for the experience, that to me is yet more evidence that this thing is on a precipice. Call it what you want, but it seems safe to say at this point that the rush to buy Taylor Swift concert tickets was a complete fiasco. Looks like I'll get to see more of your beautiful faces than previously expected we're adding 8 shows to the tour," the singer wrote on Twitter. 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. There was some weirdness with it, but the artists seemed happy with that arrangement. So Spotify launches in Europe, and what they sell you is convenience. I dont know. Then theres the next stuff, like the actual threats. Ticketmaster has claimed that demand for Swift's tour was record-setting: More than 3.5 million people signed up for the Verified Fan presale, 1.5 million were given presale codes, and more. Ish? Well, this is the thing. "Thank you for wanting to be there," she said. 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. They still dont. ", "It goes without saying that I'm extremely protective of my fans," she said. Your Spotify or Apple Music monthly fee is cheaper than Netflix, HBO Max, or whatever else, and you get more. On November 15, 2022, the first day of pre-sale of tickets to verified fans for the US leg of the Eras Tour (2023) by American singer-songwriter Taylor Swift, Ticketmaster's official website crashed following "historically unprecedented demand with millions showing up", halting the pre-sale. You can find out more and change our default settings with Cookies Settings. Music is an art creation business, a content creation business. There are public funds now where you can invest in music publishing. They dont have exactly that license right now, as far as I understand. 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. They got everything for free. There is some concern that people are only listening to music on TikTok, and that they need to listen to the really fast, sped-up version instead of the real one which is a major trend we have reported about on Switched on Pop, because that is their engagement with music. 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. If you got 15 songs, well, thats a lot more than the nine-song record. They want to own it. Go make a record. The singer commented on the issue on her Instagram story on Friday, saying. 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.. Taylor Swift released her first album in 2006. Dec. 12, 2022, 1:37 PM PST. Shes saying, Heres Speak Now (Taylors Version), off we go, and now her fans have instant access. Does that stuff seem viable to you? There was like a 10-year dark era where the industry was searching for the next thing. You get the entire catalog of recorded music, in a way that Netflix doesnt have everything or HBO doesnt have everything. Currently, in Ticketmaster, they are showing as transferrable. She is trying to reclaim the rights to all of her master recordings, which were sold without her permission by her former label. You understand the value exchange there, even if the label is taking too much money. There are still major disputes between artists and their labels, and there are still lots of people saying, Hey, this ride is coming to an end, especially around the move to internet distribution of music.. There is a sense that, Okay, if I cant go on tour forever, I can still find something to sell digitally for $20 that might be worth money and the secondary sales might return royalties to me. Theres a lot of promise there. So many people have tried to launch live audio experiences. "Even our competitors want to come on our platform. 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. I think that they were smart to chase what the people were doing. 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. 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. 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. You can just make a copy of a digital object and sell it again. Surely. Thats a whole other show that we can get to some other time. Right, because Ticketmaster is owned by Live Nation, which owns all the venues, and that is all part of the same company that owns SiriusXM, which promotes the things on the radio. The company did not say whether more tickets would be sold for the tour at a later date. Well, it was similar yet different in many ways. They just get put out for digital distribution. At the request of Swift's team, the ticket seller said on Monday that . 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. Thats going to happen. The share of listening minutes is divided by national pools. The documents cited the "disaster" that occurred on Nov. 15 and Nov. 16, along with the "cancellation of general sale tickets scheduled for Nov. 18," alleging that Ticketmaster "has effectuated this anticompetitive scheme by forcing fans of musicians to exclusively use Ticketmaster for presale and sales prices, which are above what a competitive market price would be.". 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. Theyre making a really big gamble about their future. Shes an amazing songwriter. Most of them are pooling, some of them are doing pay per stream, but most are not. 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. 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. Microfiches do that. Its the same one. So yes, there are other breakout stars, and there are more and more of them every single day. There are a handful of presale events scheduled for Madonna's Celebration Tour before public sale . Its beautifully made music, and I understand that they were all dating each other and you can just hear the pain, but I find it tedious and boring. It seems as though Ticketmaster should've known that arguably the . ", Taylor Swift fans were disappointed in the experience with Ticketmaster. Since that time, hundreds of thousands registered for the right to purchase tickets days earlier than otherwise available through Ticketmaster. Once again, probably best not to get your hopes up. I interviewed the artist Tai Verdes a year into the pandemic and he broke out his entire career on TikTok. The vast majority of Spotifys revenue goes to rights-holders, and yes, rights-holders are a stand-in mostly for labels. Do they know theyre navigating it? Tuesdays top tech news: An Apple (a) day, Watch Apples 19-minute M2 MacBook Pro and Mini intro video, The Mac Pro is now Apples last machine with an Intel chip, Apples M1 iPad Air is back down to its lowest price, Apple announces MacBook Pros with M2 Pro and M2 Max chips. I could probably name a bunch of 90s bands here, but I think were already at risk with the Taylor Swift fans. I dont have insight into her taxes, but obviously she has done movies and she has brand endorsements. They just had to figure out how to monetize it. There are people that make middle-class livings by doing Patreon and other subscriber-based tools that kind of exist at a hybrid of music and other content. 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. You have to enter the content creator world and build your identity off that. Theyre just not getting any streams, and by the end, when its all divided out, very little revenue comes to Guns N Roses. Are there any artists that jump out to you that have pulled this off besides the Justin Biebers and Charlie Puths of the world? Since then, Swift has released three new albums: "Folklore," "Evermore" and "Midnights. Yeah, I mean Metallica was also unhappy at the time, but they didnt have the same amount of clout. 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. 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. It should be more valued, but there is certainly money to be made. The next decade of her life was basically one battle after another with streamers, trying to make things better. I dont want to deny that it could come from that ecosystem. What happens after you submit a ticket request? They are now the distributors of music. Then you just have to hope that people are going to show up. Ticketmaster cancels Taylor Swift public ticket sales due to demand, 'insufficient' supply. "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.". The singer's team has announced that some verified fans who weren't able to buy tickets last month will get a second chance. 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. If youre the biggest artist in Germany, you should still be rich, even if your share of listening minutes is not. Part of what youre saying, Nilay, is that music is more valuable than it has ever been. But culturally? Is the music on streaming still just marketing for that stuff, or is that valuable to her now as well? "We have already seen that Ticketmaster cannot arrange a pre-sale," she said. Its going to be this AI-generated image of the music that you have the NFT to which will be valuable. I mean, talk about convoluted. They want to buy their music. The Pennsylvania Attorney General's Office is even getting involved, telling residents experiencing problems with the site tosubmit a complaint. You can serve them too, by the way. 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. Im pulling my back catalog. That was bold, because by 2014, the winds were in the sails of streaming. I dont know if we prepped you for that. everything else your concert tickets, your merch, your NFTs, whatever it is. For the labels, its very clear. 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. Im so sorry. The thing that we are looking for is which breakout viral successes from TikTok will turn into a multi-decade career like Taylor Swifts. Image source: taylorswift. 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. So is everyone else. Over time, as more music ended up on Spotify and people diversified their listening, there was more competition. 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. Are pooling, some of them are pooling, some of them are doing pay per,! Was some weirdness with it, but i think that they were smart chase... 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