Lets talk about the future of music now, and the new trends were seeing, the things that are coming next. He doesnt just get the TikTok platform. I feel like I always force you into this every time youre on our show. Its not the nicest ocean to swim in. Let us know when you do in comments. 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. Over time, as more music ended up on Spotify and people diversified their listening, there was more competition. 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. They cant control their costs. Its funny, I obviously think of him as a TikTok artist, but hes actually a blanket, ubiquitous, everywhere-in-media artist. So the basic math of going on tour doesnt make sense not only because of all of those macro indicators, but also because there are more artists than ever that want to go on tour. 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. That is more or less how the streaming model works. Many people are arguing for a pay-per-stream model. Youre already worth a trillion dollars. It didnt work for everybody, but for the biggest artists, it worked really well. "You have no idea how much that means.". You could walk into the store and see that your thing was the most billboarded. (Fox News Digital / Fox News), Many fans sat in the Ticketmaster queue and were told they would need to start the process over. In. Everybody gets it. Along with the tour announcement came information about how fans could score tickets. Spotify then launched in the United States in 2011. So much information is not accessible. Thank you for your patience as we continue managing this huge demand.. I also think the mathematics of the model get really weird once youre talking about share of listening on a global basis. We were five years into the iTunes era at that point. Shes a great musician, shes also just very good at making money. 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. But yes, its just another place where the economics are not in the favor at all of the people producing the material. For the labels, its very clear. Apple Music is going to be fine because the iPhone is fine, right? That is true. Her action has been to say, Well, Im just going to re-record all my music, and hopefully my fans will listen to my version versus the version that I dont own.. Many fans took to the internet to criticize Ticketmaster's handling of the pre-sales, including Rep. Alexandria Ocasio-Cortez, D-N.Y. Ticketmaster merged with Live Nation in 2010, a move which has been criticized as creating a monopoly. Yeah. Peoples behavior was going in one direction, and that was, I want all the stuff, just give it to me. Now, obviously, there are always going to be collectors. 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. AI tech companies come at me, fine, whatever, but its not a tech business. 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. In response to the report, Live Nation issued a statement on its website, saying that it "takes its responsibilities under the antitrust laws seriously and does not engage in behaviors that could justify antitrust litigation. Theyre also going to shows and doing their old style stuff as well, but they have more data and tools than ever to figure out what is bubbling up. Its a little late in this episode. Metallica: famously unhappy about the internet. AP Taylor Swift at the MTV Europe Music Awards Nov. 13 in Duesseldorf, Germany. 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. Go make a record. Right? "We have already seen that Ticketmaster cannot arrange a pre-sale," she said. And that is true; I am on guitar solo TikTok. Very much so. Taylor Swift released her first album in 2006. As much as this streaming model may not be a good business, music is a really essential part of our culture. "The Eras Tour, a journey through the musical eras of my career (past & present!) "We had 14 million people hit the site including bots, another story, which are not supposed to be there and despite all the challenges and the breakdowns, we did sell over 2 million tickets that day.". Im off., Nilay, heres the thing: that is the model of streaming. I think thats the thing that leads to lasting impact. 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. Everyone is mad at Ticketmaster, and like, Dua Lipa needs to go home. They got everything for free. Taylor Swift has addressed Ticketmaster cancelling the public sale of tickets to her highly anticipated Eras Tour. Thats why they want to do podcasts and why they have original videos. Dude, music licensing is so freaking complicated. 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. They want to have a relationship with it. This was a religious war inside the tech and media industries. Taylor Swift Makes Surprise AMAs Appearance in Golden Jumpsuit and Shouts Out Blake Lively! I dont have insight into her taxes, but obviously she has done movies and she has brand endorsements. So yeah. He creates whole media cycles off of the things that he makes. 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. 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. 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. "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. I dont want to deny that it could come from that ecosystem. Trouble, trouble, trouble Having trouble using Ticketmaster? I mean, you cant take that away. Swift hastwo shows scheduled in Pittsburghfor June 16 and June 17. From the listeners and the artists point of view, its like, What? "sitting in the Ticketmaster queue while its paused really has me wishing i never heard a Taylor swift song in my life and that i didn't know who she was," another user added. ", Swift said Friday that the controversy occurred because of a "multitude of reasons," and suggested that the blame for the situation falls on Ticketmaster. ", "It goes without saying that I'm extremely protective of my fans," she said. If you go back in this episode to when I asked Charlie to explain music licensing, there was a sigh. 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. Also unusual, because a lot of her peers that go off and make money do so primarily through means outside of music by starting fashion lines, restaurant chains, or whatever it might be. That is not at all how it works. Maybe you buy a movie on iTunes for $20 or $30. Its at a height, but its a height that feels like it cant keep going up. You can find out more and change our default settings with Cookies Settings. She added, "The first leg of the tour will be in stadiums across the US, with international dates to be announced as soon as we can! That turned into a weird interstitial revenue moment for the industry. If chosen for the presale, fans were sent. 2022 CBS Interactive Inc. All Rights Reserved. The greatest hits record is a really interesting example. There are many versions of this story. Taylor Swift released her first album in 2006. . When you visit this site, it may store or retrieve information on your browser, mostly in the form of cookies. Music is weird in that it seems utterly ubiquitous, but its actually consumed the most by, and obsessed over the most by, a fairly small group of people. "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. 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. 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. Now, Swift herself has addressed how she feels about the . There was like a 10-year dark era, the Middle Ages, where the industry was searching for the next thing. 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. ", Ticketmaster then explained their Verified Fan process, which is tasked with "identifying real humans and weeding out bots." We can probably model some churn based on if theyre listening to great music from the 50s or 60s. She has mastered the album release cycle. 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. I got them throught Ticketmaster. "I'm enchanted to announce my next tour: Taylor Swift | The Eras Tour, a journey through the musical eras of my career (past and present! "First, we want to apologize to Taylor and all of her fans especially those who had a terrible experience trying to purchase tickets. Apples basically saying, Listen, in order to launch a streaming service, we need a ton of users. We no longer have our Virgin Megastores selling all of our CDs to us, or Tower Records. Charlie, this was great. 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. There are public funds now where you can invest in music publishing. 2022 CBS Interactive Inc. All Rights Reserved. Music listening may be seasonal. People do not want it to be taken away from them and big tech companies know that. Do we have a sense of how that works and if the labels are happy with that? Did you get your tickets yet? News / Jan 17, 2023 / 10:23 PM CST. This is how theyre going to bring all of their money in. Where is Xbox Music? It wasnt at its lowest, but it was dropping quickly. Whenever I think about the state of the music industry and its business, I find myself coming to talk to Charlie Harding. Pennsylvanians experiencing problems using the site should submit a complaint to my office: https://t.co/ZMqsSY0N2I. Sometimes the music disappears. Whatever club banger metaverse that you think you might be in, theyre going to have you in it. Eras will be Swifts first tour since 2018, in honor of her 10th studio album, Midnights, which dropped in October. At some point, she should go see her family. Certainly, the most successful are the K-pop groups. They were smart to follow what the crowd was doing. Many fans sat in the Ticketmaster queue and were told they would need to start the process over. First published on November 18, 2022 / 1:42 PM. 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. And yet, not all the people are as rich as they should be. "It obviously wasn't meant to be if we didn't get tickets but we're upset. Yeah, major sigh. First published on November 18, 2022 / 1:08 PM. They dont have exactly that license right now, as far as I understand. She is trying to reclaim the rights to all of her master recordings, which were sold without her permission by her former label. Fans are also quite unhappy with a lot of these ticketing issues as well, obviously. "Though AOC may not like every element of our business, interestingly, AEG, our competitor, who is the promoter for Taylor Swift, chose to use us because, in reality, we are the largest and most effective ticket seller in the world," he said. But because of the structure of the industry, that relationship has all but disintegrated. That is not what Taylor is doing. 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. 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. The second show was added along with more than a dozen other dates because of the huge demand. Thank you so much. They are so excellent at turning music into whole worlds. He and his Consumer Protection team will use every available tool to ensure that no consumer protection laws were violated," his office tweeted Wednesday. Taylor Swift is speaking out amid the controversy surrounding Ticketmaster's handling of her upcoming "Eras" tour. In a previous statement, Ticketmaster said more than 3.5 million people pre-registered for verified fan, the largest registration in the companys history. A few hours after the sale's planned start time, Ticketmaster tweeted that the issues were due to "historically unprecedented demand" and announced it was pushing back the start times for some West Coast venues. It is being monetized, and there is a lot of money flowing. The extra dates officially made Eras her biggest tour to date. 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. Colleagues of ours at Vox had a great story about the TikTok to Spotify pipeline. Part of what youre saying, Nilay, is that music is more valuable than it has ever been. Ticketmasters parent company is Live Nation. 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. "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. We should just do a mashup of that sigh across all episodes. Taylor Swift addressed the recent controversy surrounding Ticketmaster's handling of tickets for her upcoming Eras tour. Well, this is the thing. I am curious and skeptical whether or not that simpler model could work. TikTok is profound, and it has very meaningfully shifted what is happening in music.. She has certainly raised awareness, but yeah, all of her music is on the streaming platforms. Perhaps TikTok is going to launch its own music service, but that would still put them in the world of just being yet another streamer. Break them up," she tweeted. 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. That to me is the thing that might change it in the TikTok context. EMI was eventually bought by Universal, so there was a lot of consolidation on the label side. Ringtones was one of them.. Over 2 million tickets were sold on Ticketmaster for Taylor Swift | The Eras Tour on Nov. 15 - the most tickets ever sold for an artist in a single day. If the songs are just marketing for tour tickets, then you should put the songs everywhere you can all the time. The price of fuel is an increasing cost. In this period she withheld albums from streaming at times, and removed her entire back catalog from Spotify. It feels like what probably needs to happen is subscription prices need to go up, there has to be massive cost-cutting, and there has to be user growth and diversification of business which again, I dont think music is a tech business. Shes not going to buy it, so shes just recreating it, and that is an age-old thing that so many different artists have done. We have seen tech stocks everywhere struggling. Here we go! You can make an entire business of curation in that way. They are now the distributors of music. In total, the company explained, 2.4 million tickets were sold across the Verified Fan and Capital One sales on both Ticketmaster and SeatGeek. The singer commented on the issue on her Instagram story on Friday, saying that . So Spotify launches in Europe, and what they sell you is convenience. Thats usually the best outcome. 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