Apple Music is going to be fine because the iPhone is fine, right? It grew to be the whole market. So yeah. 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. In her case, she doesnt have any ability to do so because it is owned by a financial family fund that doesnt want to give it to her. Listeners, on the other hand, were very pleased because they got everything all the time. 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. Those verified fans were informed by email Monday that they would be individually invited to put dibs on a purchase request by Dec. 23, with a two-ticket limit. I think that piece of it is the thing that makes her the most unusual. If the structure of this episode is, How are they going to ask you for $20? First it was CDs, now its tours and merch. I actually want to instruct the listener. The series of concerts is . But you are the artist. Google does not organize the worlds information and make it universally accessible. So moving outside of the $1 million NFT to the $20 NFT, maybe there is an opportunity for more collectible items in this sense. It seems the only option is to go find radical alternatives and get into the world of crypto in order to survive in music. The musics not valuable. Theyre like, Great, we know that revenues are growing. ", "It goes without saying that I'm extremely protective of my fans," she said. He noted that Swift's lack of concerts since her "Reputation" tour which ran from May to November 2018 could have contributed to the high demand. The Grammy winner also wrote that the situation "really pisses me off" and that she was actively working on a solution for her fans. All 2 million tickets for the Verified Fan onsale were sold to Verified Fans. So is everyone else. She was like, Im out of here. They are now the distributors of music. Because its marketing. That is not what Taylor is doing. There are still lots of experiments out there, but it seems like it might have been a little blip in the pan when everyone was bored at their house during the worst parts of lockdown. The sudden cancellation comes after Ticketmaster said Thursday that more than two million tickets were sold Tuesday for her upcoming tour the most ever sold for an artist in a single day. Were done. That is true. Taylors attempts to remake the music industry in the middle streaming period, as you might call it, all basically came to nothing, besides maybe a little more money or clout with the industry. 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. Earlier that morning, Liberty Media CEO Greg Maffei (Liberty owns part of Live Nation, of which Ticketmaster is a subsidiary), had blamed the situation on the "massive demand" for Swift tickets during an interview with CNBC. I want to sell my TS Eras tickets here on stubhub. By suppliers, you mean the musicians themselves? How did Spotify do at that moment? Like everybody else, she has all those things, but she leans the hardest into music. 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. That just seems very untenable to me. 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. Shes currently re-releasing all of her old albums. There is only so far you can go with user growth in countries that have lower base income and where people have more sensitivity to price fluctuations. 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. Subscribe; . Then when they ran out of countries, their growth stopped. You kept more of your revenues if you own your music, youre always better off but it was much more challenging as an independent. As much as this streaming model may not be a good business, music is a really essential part of our culture. There have been countless stories of the ways in which being on the road is immensely unhealthy, and greater awareness of the ways in which its just really bad for ones mental health to be infinitely on the road and completely displaced. Are there any artists that jump out to you that have pulled this off besides the Justin Biebers and Charlie Puths of the world? We have seen tech stocks everywhere struggling. The whole model feels utterly precarious right now. It goes without saying that I'm extremely protective of my fans. Thats Decoder everybody. "I never could have imagined how insane this whole process has been," one of Swift's fans, Amber Garis, told CBS Mornings. This is what I keep coming back to. A second presale for Swift tickets set to begin at 2 p.m. this afternoon has now been rescheduled for the same time tomorrow. There has been a realization that many of these streaming platforms, which had been valued as tech companies, are actually just digital media companies, and theyre trying to figure out how to pull in revenue after a decade of growth that has been funded by low interest rates and the natural business cycle of streaming. The company noted that although they only gave out 1.5 million presale codes, the site was overwhelmed on the day of the sale due to fans who showed up without a code and a "staggering number of bot attacks.". You cant put that genie back in the bottle. People do not want it to be taken away from them and big tech companies know that. Taylor Swift is speaking out amid the controversy surrounding Ticketmaster's handling of her upcoming "Eras" tour. Taylor Swift released her first album in 2006. Maybe you buy a movie on iTunes for $20 or $30. The ticket-selling site paused the Central Standard Time queues, delayed the West Coast times and pushed the Capital One presale to Wednesday to accommodate the demand. The statement wrapped up by saying Ticketmaster is working on improving its technology for future sales, before offering some perspective on the scope of the demand for Era tickets. Powered and implemented byFactSet Digital Solutions. And the U.S. Senate subcommittee that handles antitrust and consumer rights matters revealed it plans to hold a hearing to discuss concerns about Ticketmaster in the wake of the Eras errors. Lets say Spotify has 100 subscribers, just to make it easy. Its funny, I obviously think of him as a TikTok artist, but hes actually a blanket, ubiquitous, everywhere-in-media artist. The most exciting thing in music is that people control more of their destiny. Ticketmaster still has 170,000 Taylor Swift Eras Tour tickets after its canceled general sale for the tour. Its long gone. 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. Even though theres more music than ever, there is so much historical music that is not available. 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. She had bumps along the road doing so. So, yeah, its no wonder. There are no artists making billions of dollars through streaming as far as Im aware, but that said, there is certainly money to be made. (Matt Winkelmeyer/TAS18/Getty Images for TAS / Getty Images). Its the future of music. Again, it stood as an admission of, We cant sell this stuff. That is a huge part of why Apple is betting on Atmos. This whole episode actually started because our team was talking about Taylor and her masters. Im sorry, but Im sure its in the models. Because all the way up to Midnights, she has been a master of marketing an album, but nobody knew at the time that this was going to happen. 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. As the lucky fans who were selected for the presale attempted to join the waiting room queue for tickets, Ticketmaster is reportedly crashing on many people's devices. Everybody gets it. What was the structure of the industry in the 2000s? What you do is you say, Hey, were going to give you a little bit of an advance. They want to exit or they actually believe in this system and think that those revenues in the future are going to be very valuable. Here's Everything to Know. It's really difficult for me to trust an outside entity with these relationships and loyalties, and excruciating for me to just watch mistakes happen with no recourse.". People dont get that it is this weird pooling model. 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. Do they know that their business is out the window? Maybe I dont know myself. The next thing, or at least the promise of the next thing from some very motivated members of the industry, is crypto shit. I had Loverfest tickets (which supposedly boosted me). Potential ticket buyers shared their frustrations on social media, comparing their experience to The Hunger Games and calling on Ticketmaster and Swift to address the debacle. She wanted to get better terms, and she was able to use her clout to bring a lot of attention to areas where other artists were also unhappy about some of these streaming arrangements. Look, I see the NFT as a thing the music industry saw it could sell. In terms of it being a threat, though, I think its more a new pathway to potentially create stars. Its happening at Netflix. EMI was eventually bought by Universal, so there was a lot of consolidation on the label side. So I think something could happen there. A podcast from The Verge about big ideas and other problems. There was a nice moment where ringtones started to cushion some of the revenues. You go to the store, you spend $20 to buy the CD. A lot of her actions have helped on the margins. What Im getting at is that they made physical things. They would have to figure out how to succeed on the streaming side. Swift had been set to perform the "Lover Fest" tour in 2020, but it was canceled due to the coronavirus pandemic. "Its a function of Taylor Swift. 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. Its not that the music is worth nothing, its that most people are being compensated very poorly and have a barrage of bad contracts that they have not had any say in, whether those are the contracts that were signed between the majors and the streamers or the contract that they signed with their label. 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. I think that they were smart to chase what the people were doing. Since it cannot sell music in that one-to-one transaction, it is forever on the hunt for the $20. Notified fans will receive their individual invite to submit their purchase request prior to Friday, December 23. Thank you so much. David Hasselhoff is still doing well in Germany. Thanks for contacting us. They are able to get out of there and cash out on the venture capital model. Its very challenging to be able to make a living without streaming hundreds of thousands of songs. Taylor Swift Finally Addressed the Ticketmaster Debacle. It gets proven out in Europe over time. This material may not be published, broadcast, rewritten, or redistributed. So then that era ends and were no longer making all the money on CDs, the revenue for the industry has crashed because of piracy, and for some reason its really hard to get a ringtone on a phone, so people will pay 99 cents for a ringtone. She was upset about the low streaming rates that youre talking about. Theyre able to get their. The Post reached out to Ticketmaster for comment on the lawsuit. Its just like, Youre going to have to deal with it.. Honestly, the only one that I would put money on right now is Lil Nas X. They cant control their costs. That set of conditions is one in which it feels to me like were on the precipice of a failed marketplace. Amazon Music is going to be fine because Amazon is fine. The rocky presale era for the "Eras Tour" is finally over.. After a long wait, tickets are available on most platforms for Taylor . 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. A lot of songwriters liked that model. The company did not say whether more tickets would be sold for the tour at a later date. 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.. Greg Maffei CEO of Liberty Media, which owns a majority stake of Live Nation told CNBCthat 14 million people and bots ended up flocking to the site. What Im getting at is that the marketing funnel is really hard. Only ticket buyers who were verified were permitted to enter a queue. 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. Youre already worth a trillion dollars. I am here for it. Do Guns N Roses get $0? Surely. Taylor Swift is speaking out amid the controversy surrounding Ticketmaster's handling of her upcoming "Eras" tour. 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. If you want to listen to the most popular songs from the 30s and 40s something that I have to do in my job oftentimes the only place to find them is from vinyl collectors who are on YouTube, to your point, and have uploaded themselves playing the vinyl. They want to buy their music. (Matt Winkelmeyer/TAS18/Getty Images for TAS / Getty Images). ", She continued, "That's why we will hold a hearing on how consolidation in the live entertainment and ticketing industry harms customers and artists alike. She just wont stop. The first leg of the tour will be in stadiums across the US, with international dates to be announced as soon as we can!" 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. But yeah, definitely. 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. Well, this is the thing. I have to say, theres something very dystopian in a business context about saying she wants to own the whole fraction of a penny. 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. 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 The services are built on music, like audio trends, dances, and memes. There are no founder-friendly music labels out there. The labels themselves are saying, Were not going to sign an unsigned artist. The value exchange they did at the beginning in the CD era, where they fronted a bunch of money to an unknown artist and spent a bunch of money on promotion and cocktail parties for Tower Records middle management retail employees, that is all out the window. Where is Zune? People are always going to be upset about their contracts in music. I dont have insight into her taxes, but obviously she has done movies and she has brand endorsements. But yes, its just another place where the economics are not in the favor at all of the people producing the material. They just had to figure out how to monetize it. 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. 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. 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. Its NFTs, its blockchain tokens, its whatever universe the DJs want to put together. This is nothing new. Thats why they want to do podcasts and why they have original videos. Just by Googling the name of the song, you can probably find a way to listen to it. TikTok isnt like, Hey, heres the link to a page to be able to easily go and check out all this other stuff. Its not going to do that until it has to. "We will sometime soonish. 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. Ticketmaster Will Sell 170,000 Remaining Tickets to Taylor Swift's Eras Tour Over Next Four Weeks, Taylor Swift Fans Planning to Sue Ticketmaster After Eras Tour Ticketing Controversy: Report, Ticketmaster Apologizes to Taylor Swift Fans, Blames Issues on 'Bot Attacks' and Record Traffic, Ticketmaster Cancels Taylor Swift Eras Tour General Ticket Sale After 'Extraordinarily High Demands', Taylor Swift Says It 'Pisses' Her Off That Fans 'Had Such a Hard Time' Purchasing Eras Tour Tickets, Taylor Swift Adds 8 New Dates to Her Eras Tour: 'I'll Get to See More of Your Beautiful Faces', Taylor Swift Announces Dates for 'Eras' Tour: 'A Journey Through the Musical Eras of My Career', Joe Jonas Jokes He'll 'Get in Line' for Taylor Swift Tickets to Surprise Wife Sophie Turner. They made physical things capital model look, i obviously think of him as TikTok... 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