Taylor Swift is delighted to regain control of all copyrights to her original six albums.
In June 2019, Scooter Braun's Ithaca Holdings acquired Big Machine Records - where Taylor Swift signed a recording contract from 2006 to 2018. By owning Big Machine Records, Ithaca Holdings also owns the copyright to Taylor Swift's first 6 original albums. Specifically: "Taylor Swift" (2006), "Fearless" (2008), "Speak Now" (2010), "Red" (2012), "1989" (2014) and "Reputation" (2017). The controversial issue is that Taylor Swift does not have the right to buy back these recordings, even though they are compositions she wrote and performed herself.
Taylor Swift left Big Machine Records and began her fight for music copyright in August 2019. The singer decided to re-record all 6 albums, labeled "Taylor's Version". From 2021 to 2023, Taylor Swift released: "Fearless" (Taylor's Version), "Red (Taylor's Version)", "Speak Now (Taylor's Version)" and "1989 (Taylor's Version)". These albums not only fully performed previously recorded songs but also added previously unreleased songs.
With this strategy, Taylor Swift wants to regain control of her songs, while reducing the commercial value of the original recordings owned by Scooter Braun. This strategy is effective when Taylor Swift is supported by fans, they buy new versions. It is estimated that annual revenue from 6 old albums has decreased by 80%. Taylor Swift's response is considered by the media as an unprecedented action in music history. This is not only meaningful in terms of art but also a legal statement: Taylor Swift's music must belong to the owner.
Scooter Braun then sold Taylor Swift's master recordings to investment fund Shamrock Capital for $300 million. Once again, Taylor Swift sought to buy back the music rights. After years of negotiations, Taylor Swift reached an agreement to buy back all the copyrights, including: music videos , concert films, album covers and unreleased songs. Taylor Swift emotionally shared: "All the music I've ever written belongs to me now."
Taylor Swift's victory is a journey of perseverance and determination to reclaim what belongs to her. It is also a shocking battle over intellectual property rights in the music industry. Taylor Swift has proven that she is not only a star but also a symbol of perseverance and independence. Throughout that process, Taylor Swift has constantly innovated, increasing the value of the music she owns. The proof is that Taylor Swift continues to release new products, including the "The Eras Tour" lasting 2 years 2023-2024 with 150 performances, earning more than 2 billion USD and creating an economic impact of up to 10 billion USD for the localities hosting it. Taylor Swift's success has made her a global cultural icon.
BAO LAM (Synthesized from The Guardian, Forbes, Billboard)
Source: https://baocantho.com.vn/hanh-trinh-dau-tranh-cho-tac-quyen-cua-taylor-swift-a187394.html
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