Taylor Swift called in after news that Scooter Braun unloaded her master recordings from the Big Machine Label Group for more than $ 300 million.
“I’ve been actively trying to get my master recordings back for a year now,” she began in a statement posted on Twitter on Monday.
Although Swift’s team reportedly tried to start negotiations with Braun, the record manager reportedly asked them Love story Singer to adhere to a strict NDA, which means she “could never say another word about Braun if it wasn’t positive”.
After denying Braun’s terms, Swift said that her master recordings were instead sold to a private company called Shamrock Holdings.
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She continued, “This was the second time my music was sold without my knowledge.”
Although Shamrock Holdings wanted to let Swift know about the deal, Braun allegedly warned the company that their agreement would not go through if they contacted the artist or her team.
Swift added, “When we first communicated with Shamrock, I learned that Scooter Braun, in their terms, will benefit from my old music catalog for many years to come. I was hopeful and open to the possibility of partnering with Shamrock, but Scooter participation isn’t a beginner for me. “
She also added a letter of reply to the private equity group that bought her music.
The Shamrock Capital Content Fund also released a statement after news of the purchase was released:
“Taylor Swift is a transcendent artist with a timeless catalog. We made this investment because we believe in the immense value and opportunities that come with their work. We fully respect and support their decision and while we were hoping to form a formal partnership we also knew this was a possible outcome that we were considering. “
“We appreciate Taylor’s open communication and professionalism with us over the past few weeks. We hope that we can work with her in new ways in the future and continue to invest in her work with artists, ”the statement concluded.
diversity was the first to report how the master rights to Swift’s first six albums were sold to a previously undisclosed mutual fund.
Swift left Big Machine in 2018 and released her last two albums, Lover and folklorethrough the Universal Music Group.
Braun’s company, Ithaca Holdings LLC, purchased the Big Machine from Scott Borchetta in June 2019.
In April, the music superstar had beaten Braun for his “shameless greed” when releasing a new album of her songs.
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“It looks to me like Scooter Braun and its backers 23 Capital, Alex Soros, the Soros Family, and The Carlyle Group saw the latest balance sheets and found it wasn’t exactly a good choice, $ 330 million for mine Pay music and they need money, ”she wrote on Instagram. “In my opinion … Just another case of shameless greed in the coronavirus era.”
Starting this month, the Grammy Award winner can re-record songs from her first five Big Machine-released albums.
This would mean fans could stream their newly recorded version instead of the one purchased by the new owner.
Sara Bareilles was one of the first stars to support Swift after the news of the sale.
“Greed is also a virus and everywhere. F – k das. @ Taylorswift13 send you love,” wrote the singer.
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ET has asked Swift’s rep for comment.