They were sold to Shamrock Capital’s investment group for $300 million, despite all the attempts of the artist.
Singer Taylor Swift could not buy the rights to six of his eight albums from the head of the company Ithasa Holdings Scooter Brown. They were purchased for more than $300 million by the investment group Shamrock Capital, reported November 17, The Financial Times. As the newspaper stresses, the deal was a new turn in the long conflict between Swift and Brown, an influential music manager. It also indicates the inflow of private investment and financial groups into the music recording market.
It is noted that in recent years, the cost of music recordings has increased dramatically. Companies buy the rights to the music, as popular songs provide a stable income to investors.
In the case of Swift albums, as experts note, it is about the rights to the so-called masters – the original recordings from which copies of albums are made. According to the agreement, the company that enters into an agreement with the artist to release an album earns from the sale and streaming of music and then gives him a share of the proceeds.
Recall that 30-year-old Taylor Swift is widely known and the winner of ten Grammy Awards and 29 American Music Awards.
In 2019, Forbes magazine named the singer the most highly paid artist of the year.