"It's truly amazing that 2.4 million people got tickets, but it really pisses me off that a lot of them feel like they went through several bear attacks to get them.". The music that we are able to listen to is music that can be monetized. We have settled the most important debate: Is David Hasselhoff rich in Germany? 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 Taylor Swift Makes Surprise AMAs Appearance in Golden Jumpsuit and Shouts Out Blake Lively! Taylor Swift is known for planting Easter eggs and all the visuals match up in interesting ways, but in the world of K-pop, there are concepts and character arcs that last over many albums. Part of doing so would require getting permission from all of the labels to be able to play all songs, all the time, all the way through on demand, and whenever you want. I mean, come on, Blockbuster? Shes not asking them to buy the record again. When you start getting into the number of people who are actually getting wealthy off of the streaming model, its a very, very small, elite group of people that get to have a successful music career. People are still buying songs for 99 cents on iTunes, and people are still buying CDs in order to rip them onto their computers. Her career is definitely a good case study across the last almost 20 years. All Rights Reserved, By submitting your email, you agree to our. 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. Make no mistake: Ticketmaster deserves the scorn that it is currently receiving from Taylor Swift's listenership, a population of such size and power that it probably merits a spot in the. (Fox News Digital / Fox News), Many fans sat in the Ticketmaster queue and were told they would need to start the process over. A general sale was then planned for Nov. 18 for fans who didn't receive a Verified Fan code or have a Capital One card. But the model of getting that $20 from touring isnt working for everyone. I mean, depending on what happens in the stock market in the coming year, I think its very possible that they become an acquisition target for a tech company that needs a streamer. I interviewed the artist Tai Verdes a year into the pandemic and he broke out his entire career on TikTok. I love talking about the business of music with you, even though I just want it to be guitar solos. She just wont stop. That is a huge part of why Apple is betting on Atmos. If we had a pay-per-stream model, all of a sudden Spotify would have to pay out seven times more than its used to during that winter season. It wasnt at its lowest, but it was dropping quickly. 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. These streaming platforms, which were valued as tech companies, are actually just digital media companies. I dont think so. It gets proven out in Europe over time. Even before ticket sales kicked off, the demand for Swift's upcoming tour was high so much so that the Midnights singer added an . ", Swift said that the Eras Tour would kick off on March 18, 2023, in Glendale, Arizona, and conclude on Aug. 5, 2023, in Los Angeles. Is the music on streaming still just marketing for that stuff, or is that valuable to her now as well? Charlie, this was great. They have been growing and they are listening in this way. How did Spotify do at that moment? Thank you so much. In response to the presale fiasco, more than two dozen Swifties teamed up and filed a lawsuit against Live Nation Entertainment. The royalty rights werent necessarily better, and it just depends on the structure of any given persons deal, but things were much more assured. Amazon Music is going to be fine because Amazon is fine. I think that the worlds in which fandoms are emphasized have definitely done well in this model. (Fox News Digital / Fox News). Most of them are pooling, some of them are doing pay per stream, but most are not. 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! Thats what Im saying. Its like, How long is this fandom going to last? There has been a financialization of music catalogs, and many people are selling their catalogs for multiples of over 10. "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. There are people getting better label deals than ever before because they are building their own fanbases. Its obvious. They wont stop being around me, and its TikTok. The outlet reported that Ticketmaster will use Ticketstoday a ticketing platform first made in the early '00s for the Dave Matthews Band's fan club to sell the tickets, with the hope that the platform will help them avoid crashes or long wait times. All of the movie streamers do not give you all the movies. 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. She was upset about the low streaming rates that youre talking about. It might be undervalued financially, but in terms of value as humans, it is so essential to us. The Pennsylvania Attorney General's Office is even getting involved, telling residents experiencing problems with the site tosubmit a complaint. I mean, we are putting that in the metaverse right away. So Spotify launches in Europe, and what they sell you is convenience. 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. I was a verified fan. It's truly amazing that 2.4 million people got tickets, but it really pisses me off that a lot of them felt like they had to go through several bear attacks to get them. According to Billboard, Ticketmaster still has 170,000 remaining tickets for the Eras tour and the company is gearing up to sell them to the lucky fans who previously received emails in the next four weeks. Okay, theyre working to sell my product because they have a financial stake in the product too.. She is the centerpiece of actual demand from a very passionate fan base, and instead of pointing that fan bases demand at merch or whatever, she points it at music making. You were talking about how if you go viral on TikTok, then all of your fans will go listen to you on Spotify, then they might go buy a T-shirt, then they might end up buying a tour ticket. But yeah, definitely. It seems to be a mentality of, How can we get this stuff out there so that people can hear it and we can monetize it later down the stream?. Ill bring this back to Taylor Swift, because she did live through these eras. "Its a function of Taylor Swift. "We have already seen that Ticketmaster cannot arrange a pre-sale," she said. There is no shortage of stories of artists, musicians, and songwriters being short-shrifted throughout the entirety of the music industry. She said, No, Im not going to put it up on Spotify., Thats a sea change moment for the industry, because until that second, streaming was this other thing that was happening. Swift hastwo shows scheduled in Pittsburghfor June 16 and June 17. Taylor Swift is speaking out amid the controversy surrounding Ticketmaster's handling of her upcoming "Eras" tour. The utility of it, I think, is lacking. The iPod is out, but Apple is still saying, Rip. This whole episode actually started because our team was talking about Taylor and her masters. At some point, she met the industry in the middle. They are able to get out of there and cash out on the venture capital model. I think thats the thing that leads to lasting impact. Its truly amazing that 2.4 million people got tickets, but it really pisses me off that a lot of them feel like they went through several bear attacks to get them., 2023 NYP Holdings, Inc. All Rights Reserved, Eminem, Taylor Swift, BTS and more donate items to MusiCares Charity Relief Auction, Taylor Swift is roasted and toasted on a Pop-Tart, Taylor Swift shocks fans with first live performance of Anti-Hero, EmRata curses Ellen DeGeneres after Taylor Swift interview resurfaces, The mega ticket marketplace has apologized. I was talking about this with my friend Charlie Harding, the co-host of Switched on Pop, and he said that he thinks the upcoming Taylor Swift The Eras Tour is itself the end of an era in music that the age of cheap streaming services is coming to an inevitable conclusion and that something has to change in order for the industry to sustain itself in the future. 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. Charlie, I think the algorithm might be better than you think. Thats all flipped now. Everyone is mad at Ticketmaster, and like, Dua Lipa needs to go home. 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. 1999 was the height and record profits were declining, yet CD sales were still very large at that point. Apple Music is going to be fine because the iPhone is fine, right? Tickets for the Era tour were first available to purchase on Nov. 15 at 10 a.m. local venue time for the lucky 1.5 million fans who received Verified Fan codes. There is opportunity for someone to do something very creative and disruptive.. Where is Groove? But yes, its just another place where the economics are not in the favor at all of the people producing the material. In the 2010s, with each record release, there seemed to be a major dispute with the streamers., Well in the 2010s, with each record release, there seemed to be a major dispute with the streamers. Mix. The master recording represents the largest majority of the revenue in streaming, as it did in the physical goods era as well. Charlie, this was amazing. Well, this is the thing. Were talking about crypto. Maybe its because there are so many different people on the team using it or something, but no, its way off. We have seen tech stocks everywhere struggling. To be fair, the big knock on the music industry during the CD era was that CDs were full of filler tracks in order to make them look like a better value than they were. 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. There are hundreds of people who have been signed now off of the platform to label deals. I followed their instructions, logged on early, using my laptop (not a mobile device), waiting a LONG time (like everyone else), finally got in and it was a bloodbath., She continued: Grab tickets as fast as I could, go to purchase them only to be told someone else got them first, FINALLY got tickets in my cart, only to have the site crash, got thrown back in the queue, could not get a transaction to go through.. 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. That is ultimately the place where youre most likely to be making your money. A desperate Taylor Swift fan who forked out over $5.5k to secure tickets to see her idol on tour has admitted to feeling that she no longer wants to go and 'regrets' the purchase You said at the beginning here that streaming feels like its on the rocks. Theyre able to exit and say, Hey, I got $200 million for my entire music catalog. Some people want to be on either side of this. There have been 20 years of the streaming business. Sign up for Verge Deals to get deals on products we've tested sent to your inbox daily. In terms of it being a threat, though, I think its more a new pathway to potentially create stars. They dont know how much listening is going to happen during that time, and they dont know exactly how much revenue theres going to be in any given time period either. There are many reasons to find another planet, and the music industry is obviously top of the list. Colleagues of ours at Vox had a great story about the TikTok to Spotify pipeline. Music broadly has two big licenses. In 2020, you could have one breakout song that had hundreds of millions of streams on it on TikTok. That to me is the thing that might change it in the TikTok context. The company said the cancelation was triggered by unprecedented demand, with more than 3.5 million people pre-registered to get an access code for purchasing tickets. ", Senators Amy Klobuchar and Mike Lee announced that a U.S. Senate antitrust panel will hold a hearing "to examine the lack of competition in the ticketing industry. Everyone was putting their albums on streaming, and people were having a great time exploring Spotify. So yeah. Thats the baseline expectation I think all of us have of the metaverse. And maybe more importantly, to try and figure out if the music industry can sustain and support artists who are not Taylor Swift because streaming all by itself definitely cannot. Taylor Swift's Eras Tour is on track to sell $591 . I live in the best city for it," said Amy . 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. The most exciting thing in music is that people control more of their destiny. It fuels trends that are observed by billions of people within days. Currently, in Ticketmaster, they are showing as transferrable. If chosen for the presale, fans were sent. I could probably name a bunch of 90s bands here, but I think were already at risk with the Taylor Swift fans. </p> David Hasselhoff is still doing well in Germany. For example: based on the volume of traffic to our site, Taylor would need to perform over 900 stadium shows (almost 20x the number of shows she is doing)that's a stadium show every single night for the next 2.5 years. The 33-page lawsuit was filed Friday in Los Angeles, attorney Jennifer Kinder told The Post. And its getting harder because all of these things are marketing funnels for other places. She certainly wants to own this asset for the amount of money that can be made in streaming. 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. When you see how she has made that shift, are there any other artists who have managed to pull that off? According to documents obtained by Deadline, Live Nation Entertainment is being accused of violating the state's Cartwright Act and Unfair Competition Law, fraud, misrepresentation and fraudulent inducement. Taylor Swift is speaking out amid the controversy surrounding Ticketmaster's handling of her upcoming "Eras" tour. If music was working, you could keep leaning harder into it, but its not the future of that business. Your expectation is, This better be amazing. Thats creating this upward spiral of, I want a better show. Ticketmasters parent company is Live Nation. I have this theory that music is usually about five years ahead of the rest of media in terms of its relationship to tech whether thats new formats based on new tech, like vinyl to CDs, new business models like streaming, or simply being disrupted by new kinds of artists who use new forms of promotion, like TikTok, in unexpected ways. At last, some good news for Swifties came on Dec. 12, when select fans received emails notifying them that they would get a second chance to purchase Eras tickets. SPOTIFY CROWNS TAYLOR SWIFT'S 'MIDNIGHTS' AS MOST-STREAMED ARTIST, MOST-STREAMED ALBUM Many fans sat in the Ticketmaster queue for hours waiting to get Swift tickets. Theres so much. People are always going to be upset about their contracts in music. We were looking at the number of legacy artists that are selling off their catalogs for huge amounts of money to private equity companies, who all think theyre going to make massive returns on owning those catalogs of music. Spotify then launched in the United States in 2011. A lot of her early records were released on CD, but by Red, there was a lot of pressure to put things on streaming. The talent scouts whose job it is to go and find new talent are surfing TikTok. Taylor Swift is a beloved performer and getting tickets to her concerts can be a real headache sometimes. 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. ", Swift said Friday that the controversy occurred because of a "multitude of reasons," and suggested that the blame for the situation falls on Ticketmaster. ", Taylor Swift fans were disappointed in the experience with Ticketmaster. One, I think we both very much like Taylor Swifts music and we think shes a good musician. There are public funds now where you can invest in music publishing. If you were a songwriter like Taylor Swift, you would also get a cut of the publishing royalties. He, like Taylor, is brilliant at understanding where the culture is at and how to say or do something on the edge of acceptability within certain communities, to then cause uproar, backlash, and embrace. People dont get that it is this weird pooling model. I was a collector. That is not what Taylor is doing. Thats actually maybe the most interesting piece of the TikTok puzzle, the Instagram Reels puzzle, and the YouTube Shorts puzzle. (The Associated Press / AP Newsroom), GET FOX BUSINESS ON THE GO BY CLICKING HERE. Its both, because she is putting out vinyl. Then she was like, I have a new record, but if you want to listen to it, you have to pay for it.. You need to be posting many times a day, and you need to be figuring out how to create whole moments every single week in order to maintain attention when theres so much other material that people could be focused on. 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. / CBS News, Taylor Swift is speaking out amid the controversy surrounding Ticketmaster's handling of her upcoming "Eras" tour. It was an interesting era to launch a music career, because it really was towards the death of the CD era. She said she's "trying to figure out how the situation can be improved moving forward. Then inside of that, you might make some ancillary deals to re-record or whatever. I think that middle step of, We need to print CDs, we need to promote CDs, we need to sell CDs, and we need to have a relationship with retailers in order to even have the CDs in the stores, always seemed like a big chunk of revenue that should naturally go to the artist. In a previous statement, Ticketmaster said more than 3.5 million people pre-registered for verified fan, the largest registration in the companys history. Heres how I think most people think their streaming subscription works. The queue for those tickets, initially reserved for both Taylor Swifts verified fan base and Capitol One membersboth with pre-registration codescrashed Ticketmaster shortly before the on-sale time. Shes very savvy, yes. They give you the movies that they have licensed, then things just disappear and you no longer have them. I feel like I always force you into this every time youre on our show. However, Maffei defended the Live Nation and Ticketmaster merger. It was probably very difficult for an indie artist, because distribution was more challenging then. "We will sometime soonish. . In the case of touring, there are way more artists than ever that want to tour at the moment because they had to hold back during COVID-19. Now its listens over time. As we go through this chronology from the CD era until now, that is the inversion that Taylor Swift and every other artist has had to either navigate through or get destroyed by. Yeah, I mean Metallica was also unhappy at the time, but they didnt have the same amount of clout. The extra dates officially made Eras her biggest tour to date. Where is Xbox Music? She withheld her back catalog from Spotify and Apple Music, but now theyre on Spotify and Apple Music. I dont know. "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. Now theres much more. A fan who had been sent a verified code was told the Ticketmaster account wasn't linked to the Verified Fan sale. To your point, I think peoples expectations are rightly rising because they see something so spectacular, especially when you can go on YouTube and see a clip of the thing which was spectacular. I think its important to say that. Everything has just become more expensive in our world with inflation. Yeah. Originally, Swifties were able to sign up for Ticketmaster's Verified Fan programuntil November 9, which allowed them to rank their preferred show dates. "The site was supposed to be opened up for 1.5 million verified Taylor Swift fans," he said. The company said the cancelation was triggered by unprecedented demand, with more than 3.5 million people pre-registered to get an access code for purchasing tickets. He and his Consumer Protection team will use every available tool to ensure that no consumer protection laws were violated," his office tweeted Wednesday. Very much so. Talk to us about the CD era. It seems like in the past two years especially, it has remodeled the music industry. When you visit this site, it may store or retrieve information on your browser, mostly in the form of cookies. They cant control their costs. Thats the other thing I want to stipulate. 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. I love having you on the show. I mean, they would all say they are. 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Tennessee Attorney General Jonathan Skrmettivowed to investigate Ticketmasterafter his office was flooded with messages fromirate concert hopefuls. Many fans sat in the Ticketmaster queue for hours waiting to get Swift tickets. ", 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 seems the only option is to go find radical alternatives and get into the world of crypto in order to survive in music. "It obviously wasn't meant to be if we didn't get tickets but we're upset. All fans receiving this opportunity were notified via email on Monday, December 12. Whenever I think about the state of the music industry and its business, I find myself coming to talk to Charlie Harding. First published on November 18, 2022 / 1:42 PM. Since that time, hundreds of thousands registered for the right to purchase tickets days earlier than otherwise available through Ticketmaster. Yes, in the early 2010s, artists like Adele and Coldplay were also saying, Hey, were not down with this. Right. I dont want to deny that it could come from that ecosystem. When I think of the promise of the Metaverse, what I think about is a private equity firm collecting royalty checks on streaming Neil Youngs back catalog to me. But culturally? Ticketmaster has claimed that demand for Swift's tour was record-setting: More than 3.5 million people signed up for the Verified Fan presale, 1.5 million were given presale codes, and more. Did it seem like the future? The singer commented on the issue on her Instagram story on Friday, saying that Ticketmaster had assured her team "multiple times" they "could handle this kind of demand. Its happening at Warner Discovery. She has mastered the album release cycle. 2023 Vox Media, LLC. Google does not organize the worlds information and make it universally accessible. You can get your one robot nursery rhyme to go viral on TikTok, but then you dont have any other moves. So moving outside of the $1 million NFT to the $20 NFT, maybe there is an opportunity for more collectible items in this sense. Greg Maffei, CEO of Liberty Media, opened up about the ticket fiasco during an appearance on CNBC's "Squawk on the Steet." Each of you listening is not going to give them that nice $5. Taylor Swift has found the $20 in selling clocks, shoes, and all of the other stuff that shes managed to sell, and now very expensive tour tickets. Thats amazing. It goes without saying that I'm extremely protective of my fans. To get the $20 at the end, we have to front too much money. They were smart to follow what the crowd was doing. That to me seems like the most opaque part of this entire thing. Tickets for the Era tour were first available to purchase on Nov. 15 at 10 a.m. local venue time for the lucky 1.5 million fans who received Verified Fan codes. The site was supposed to open up for 1.5 million verified Taylor Swift fans," Maffei said. Its very challenging to be able to make a living without streaming hundreds of thousands of songs. Many would say that one of the things that streaming has done is it has created a situation where there are forecastable, projectable revenues that say, Hey, this is how many people are listening to this music. No, because its the total amount of listening. How did that war play out in the beginning? I was one of those listeners. There are so many robot nursery rhymes that go viral on TikTok and then they kind of go nowhere. Politicians even got involved, with House Rep. Alexandria Ocasio-Cortez tweeting that Ticketmaster has become a "monopoly" after its merger with Live Nation and that "they need to be reigned in.". Streaming is currently very much still a part of that. Yes, CDs basically tanked because everybody realized, I want to listen to all the music, and I dont really want to pay for it. CDs were expensive. What if during the holidays all we do is listen to Mariah Carey, and we listen to her seven times as much as we listen to all other music throughout the rest of the year? Thats why Im saying its way more than TikTok. As I said, if youre the rights-holder, if youre the label or if you own the master recording, there is a lot of money to be made. 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. The music industry has certainly bet a lot of its time there. Update 11/16/22 Taylor Swift Eras Tour Capital One Cardholder Presale Wednesday, November 16 | 2 p.m. local venue time To best access the Taylor Swift Eras Tour Capital One Cardholder Presale ticket queues, fans should log into their Ticketmaster account and click on the link for your preferred dates below. Get browser notifications for breaking news, live events, and exclusive reporting.

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