", 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. 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.". They keep trying to get somewhere else. Absolutely, there was clarity. 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. 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. There was some weirdness with it, but the artists seemed happy with that arrangement. Then thats why she ends up crashing Ticketmaster, because she understands exactly how to leverage those fans into tickets. Im not betting against streaming and Im not betting against music, but the business model itself feels like it is one that is certainly not sustainable in the extremely long term without either raising prices a lot, creating magic user growth by finding another planet of humans that havent subscribed to a service yet, or some other miracle that I dont understand. He and his Consumer Protection team will use every available tool to ensure that no consumer protection laws were violated," his office tweeted Wednesday. November 18, 2022 / 1:08 PM It was hard to get national or global distribution without a label. "sitting in the Ticketmaster queue while its paused really has me wishing i never heard a Taylor swift song in my life and that i didn't know who she was," another user added. 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. They give you the movies that they have licensed, then things just disappear and you no longer have them. It . Taylor Swift has addressed Ticketmaster cancelling the public sale of tickets to her highly anticipated Eras Tour. It was the labels job to promote you, manufacture CDs, truck those CDs to stores all over the country, manage their relationships with physical media, and distribute it. Ticketmaster cancels Taylor Swift public ticket sales due to demand, 'insufficient' supply. 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. ", "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," she said. This is the story of big content creators that has been coming out over the years of how actually truly demanding it is. Taylor Swift's 10th studio album, "Midnights," was released on Oct. 21. Charlie, I think the algorithm might be better than you think. The singer commented on the issue on her Instagram story on Friday, saying that . It should be more valued, but there is certainly money to be made. Its often like the Marvel Cinematic Universe. There are all kinds of new ways to participate. Theres so much. She has inhabited a lot of them and been able to go with the changes in a way that many artists have not. Youre already worth a trillion dollars. Theyre just like, I dont understand, big tech company. Just to put a cap on this episode, what are the markers you see of positive change? The Swifties are seeking $2,500 for each civil violation. Did you get your tickets yet? There was a better option. 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. (Fox News Digital / Fox News), A fan who had been sent a verified code was told the Ticketmaster account wasn't linked to the Verified Fan sale. You have to find another planet, for other reasons too, unfortunately. Spotify is the only major streamer that is not subsidized by a larger tech company. The one that comes to mind for me immediately and instantly is TikTok. You can get your one robot nursery rhyme to go viral on TikTok, but then you dont have any other moves. GettyTaylor Swift is set to release more tickets for her The Eras Tour after thousands of fans missed out on Ticketmaster[/caption] Fans were left . Additionally, less than 5% of tickets had been sold or posted on the secondary market. Getty Images The marketplace of music is strange, in that the consumers are pretty happy, the distributors are doing great, and the suppliers are extremely unhappy in general. (Gareth Cattermole/TAS18/Getty Images for TAS / Getty Images). And while the inquiry is said to predate the Eras tour disaster, the situation further exacerbated complaints from fans, musicians and politicians alike. If youre Dua Lipa, a lot of people will show up, but there were lots of artists this past summer who had to cancel their tours because they couldnt make the math work. Ticketmaster cancels general public sale of Taylor Swift tour tickets. I was very budget-constrained at that point in my life, and I used to count the number of songs on an album to think about where I should put my money. The second show was added along with more than a dozen other dates because of the huge demand. Taylor Swift is speaking out amid the controversy surrounding Ticketmaster's handling of her upcoming "Eras" tour. I have always found those models to be a bit optimistic, because most other countries do not look like the GDP of the United States, where many of these tech companies get founded though obviously Spotify was founded in Sweden. Even though theres more music than ever, there is so much historical music that is not available. It has become the centerpiece of our social media. The rocky presale era for the "Eras Tour" is finally over.. After a long wait, tickets are available on most platforms for Taylor . Taylor Swift is speaking out amid the controversy surrounding Ticketmaster's handling of her upcoming "Eras" tour. I dont have insight into her taxes, but obviously she has done movies and she has brand endorsements. Copyright 2023 CBS Interactive Inc. All rights reserved. Im not going to make excuses for anyone because we asked them, multiple times, if they could handle this time of demand and we were assured they could, Swift said of the ticket fiasco. I was a verified fan. The industry is very mad at Apple for this, but the iPods ascendancy is there. So I think something could happen there. I wasnt going to buy the nine-song record because CDs at my local Best Buy were very expensive. I am curious and skeptical whether or not that simpler model could work. Here we go! You can make an entire business of curation in that way. 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. 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. The thing that we are looking for is which breakout viral successes from TikTok will turn into a multi-decade career like Taylor Swifts. I mean, come on, Blockbuster? They are able to get out of there and cash out on the venture capital model. Dude, music licensing is so freaking complicated. All presale codes and links sent via text will still work at that time, they said. Santigold, Shawn Mendes, Animal Collective, theyre all complaining like, This is too much. YouTube is going to be fine because Google exists. Eras will be Swifts first tour since 2018, in honor of her 10th studio album, Midnights, which dropped in October. We now live in an intellectual property business, where a lot of these things are never actually even printed. I want it to look grander. So ticket prices are going up, and so more people want to get out on the road and capture more of those ticket prices. There are many versions of this story. 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. A bunch of Tower Records managers got to go to parties, so they would put your CDs at the front of the store instead of the back. I wanted all of my music that Ive ever had. Right. Thats to get you all the way down to, Okay, now Im just handing you $20 again. Or in the case of Taylor Swift, $6,000 for a ticket for a floor seat or whatever. I think that they were smart to chase what the people were doing. Taylor Swift announced the Eras Tour earlier this month her first since her "Reputation" album tour in 2018 and fans are eager to get their hands on tickets. Is she following the standard playbook or is she evolving? Everyone is mad at Ticketmaster, and like, Dua Lipa needs to go home. Now every single time that people stream these songs, she gets more of the share of that stream if they listen to Taylors version. This is how theyre going to bring all of their money in. 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? What you do is you say, Hey, were going to give you a little bit of an advance. We know that we own over 70 percent of all the listening that happens on Spotify. From the labels perspective, they can predict what kind of money theyre going to hopefully bring in each quarter. I was one of those listeners. 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. Ticketmasters parent company is Live Nation. Streaming is currently very much still a part of that. 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. You just need a safe space of Guns N Roses fans making only Guns N Roses content. Does that stuff seem viable to you? ", 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. 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There are some very meaningful, projectable revenues that can be made if you own all of your recordings, so she is taking those actions. That helped persuade me eventually, but most of us were just trying to listen to everything that we wanted whenever we wanted. She was the product of a Nashville system and she did not have a built-in fan base when she released her first record. Vinyl is a small but meaningfully growing share of the music revenue pie. To get music, you had to go to the store and buy a physical copy of a CD, and that made everybody rich. Perhaps TikTok is going to launch its own music service, but that would still put them in the world of just being yet another streamer. 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.". They want to own it. Since it cannot sell music in that one-to-one transaction, it is forever on the hunt for the $20. Obviously, with an NFT, you dont have to front the cost of a tour and you dont have to manufacture clocks. Apples basically saying, Listen, in order to launch a streaming service, we need a ton of users. 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. Many fans sat in the Ticketmaster queue for hours waiting to get Swift tickets. I hate that word, but lets just say it. She also shared the names of the performers who will be joining her onstage for her opening acts, including Paramore, Phoebe Bridgers and HAIM, before ending with a message to her fans: "I can't WAIT to see your gorgeous faces out there. 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. There is a physical good side to the re-release and there is money to be made there, but the other side is the licensing and the intellectual property. Taylor Swift performs on stage during her "Reputation" stadium tour at Wembley Stadium in London on June 23, 2018. The company did not say whether more tickets would be sold for the tour at a later date. Then we are compelled to talk about NFTs and other glimmers of change that might be coming. "Due to extraordinarily high demands on ticketing systems and insufficient remaining ticket inventory to meet that demand, tomorrow's public on-sale for Taylor Swift | The Eras Tour has been cancelled," read a tweet posted to the official Ticketmaster account. In this period she withheld albums from streaming at times, and removed her entire back catalog from Spotify. There is a sense that, Okay, if I cant go on tour forever, I can still find something to sell digitally for $20 that might be worth money and the secondary sales might return royalties to me. Theres a lot of promise there. Ticketmaster said it saw a "historic demand for tickets" during Taylor Swift's presale Tuesday. We should just do a mashup of that sigh across all episodes. Notified fans will receive their individual invite to submit their purchase request prior to Friday, December 23. It thinks the Switched on Pop TikTok account is an in-recovery smoker who is really into a bunch of very dated movie references. Sometimes the music disappears. Taylor Swift addressed the recent controversy surrounding Ticketmaster's handling of tickets for her upcoming Eras tour. I dont think so. 1999 was the height and record profits were declining, yet CD sales were still very large at that point. I mean, they would all say they are. A lot of her early records were released on CD, but by Red, there was a lot of pressure to put things on streaming. While they estimated that only 15% of users experienced issues, Ticketmaster recognized "that's 15% too many, including passcode validation errors that caused fans to lose tickets they had carted." I mean, well find out. She points it at her own music and she points it obviously at this tour, which has enough demand to bring down Ticketmaster and to set off a series of antitrust investigations into whether Ticketmaster is a monopoly, which is incredible. "We had 14 million people hit the site including bots, another story, which are not supposed to be there and despite all the challenges and the breakdowns, we did sell over 2 million tickets that day.". Those with Capitol One on-sale codes were rescheduled to buy tickets Wednesday at 2 p.m. local venue time. I think you have to live and breathe in it to really see the opportunities because its moving so quickly. 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. Because its marketing. You see why theres interest there. Heres how I think most people think their streaming subscription works. I dont know. Lets say Spotify has 100 subscribers, just to make it easy. 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. All About Anna Olson, performers who will be joining her onstage. Oftentimes you can buy greatest hits records, and its not actually the greatest hits, its re-recordings of the greatest hits. Now, here in 2023, the music is marketing for you selling everything else your concert tickets, your merch, your NFTs, whatever it is. I think a lot of it has to do with, frankly, mismatches of supply and demand. Several pre-sales events are planned ahead of Madonna's holiday tour before the public sale begins, which Becker considers a bad sign. Shortly after announcing the Eras Tour, Swift added eight new dates to the highly anticipated event. Fans had until Nov. 9 to register for the Eras presale through Ticketmaster's Verified Fan program. Its at a height, but its a height that feels like it cant keep going up. (Getty Images / Getty Images), SPOTIFY CROWNS TAYLOR SWIFT'S MIDNIGHTS AS MOST-STREAMED ARTIST, MOST-STREAMED ALBUM. Shawn Mendes was a Vine star. Listen to Decoder, a show hosted by The Verges Nilay Patel about big ideas and other problems. Where is Groove? Swifties reported website outages and hours-long waits only to log off empty-handed. 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. One is the sound recording, called the master, which Taylor wants to own. Ticketmaster, based in Beverly Hills, crashed shortly after 10 a.m. Tuesday after reporting historically unprecedented demand, with "millions of fans" showing up to buy tickets for the TaylorSwiftTix Presale event. The master recording represents the largest majority of the revenue in streaming, as it did in the physical goods era as well. 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 Taylor Swift is speaking out amid the controversy surrounding Ticketmaster's handling of her upcoming "Eras" tour. Now, Swift herself has addressed how she feels about the . Its really hard to change behavior. You get the entire catalog of recorded music, in a way that Netflix doesnt have everything or HBO doesnt have everything. Taylor puts out her first record and she wants people to listen to it, so she has to go on radio and on tour. People use these platforms to hopefully up-level off of those platforms into places where they can secure more acclaim, revenue, et cetera. Some 1.5 million fans were given a promo code for the verified fan presale, with the other 2 million placed on a waiting list. So many people have tried to launch live audio experiences. Taylor Swifts recently released Midnights album crashed Spotify and other streaming services shortly after the album's October release. When I say streaming is on the rocks, what Im getting at is that its still not as valuable to anyone as it should be. I didnt want to rent, and I wasnt into the streaming thing. Now theres much more. She didnt want to participate in that model. Tuesdays top tech news: An Apple (a) day, Watch Apples 19-minute M2 MacBook Pro and Mini intro video, The Mac Pro is now Apples last machine with an Intel chip, Apples M1 iPad Air is back down to its lowest price, Apple announces MacBook Pros with M2 Pro and M2 Max chips. This doesnt make any sense.. 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. Shes not going to buy it, so shes just recreating it, and that is an age-old thing that so many different artists have done. 2022 CBS Interactive Inc. All Rights Reserved. That turned into a weird interstitial revenue moment for the industry. What do you think a label is looking for? Part of what youre saying, Nilay, is that music is more valuable than it has ever been. The whole model feels utterly precarious right now. The singer commented on the issue on her Instagram story on Friday, saying that . News / Jan 17, 2023 / 10:23 PM CST. We have seen tech stocks everywhere struggling. ", Swift said Friday that the controversy occurred because of a "multitude of reasons," and suggested that the blame for the situation falls on Ticketmaster. I mean, we are putting that in the metaverse right away. Artists and performers didnt get paid off with radio streams unless they were a songwriter. AI tech companies come at me, fine, whatever, but its not a tech business. "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. On Thursday, Ticketmaster canceled its general sale of the tour tickets that was supposed to debut on Friday after hours of complaints about pre-sale site complications and glitches. ", Ticketmaster then explained their Verified Fan process, which is tasked with "identifying real humans and weeding out bots." Do we have a sense of how that works and if the labels are happy with that? Theres certainly the value of the music in advertising sync and getting it synced in video and so on. She withheld her back catalog from Spotify and Apple Music, but now theyre on Spotify and Apple Music. Touring is certainly doing really well for her. Haim Sisters Excited for 'Backstage Dance Parties' on Taylor Swift 'Eras' Tour: 'It Is Perfect', Paramore Announces Massive 26-City US Summer Arena Tour in Support of Upcoming 'This Is Why' Album, All About Taylor Swift's Eras Tour Opening Acts, A Timeline of Balenciaga's Ad Campaign Scandal, Anita Baker Announces First Full Tour Since 1995 to Celebrate 40th Anniversary of 'The Songstress', iHeartRadio's Massive 2022 Jingle Ball Tour Lineup Features Dua Lipa, Lizzo, Jack Harlow and More, Who Is Frankie Jonas' Girlfriend? Yes, in the early 2010s, artists like Adele and Coldplay were also saying, Hey, were not down with this. I dont think we actually know, but if you were an artist at that time, how much of that money was coming to you? We have to see how big your TikTok is before we ever sign the deal.. Lets just be more explicit about that to make it really clear for people. What happens after you submit a ticket request? Peoples behavior was going in one direction, and that was, I want all the stuff, just give it to me. Now, obviously, there are always going to be collectors. She has not yet had to make that turn, but the midline artist is desperate for the next thing they can sell. It's going to happen," Swift said when asked by the host, adding, "We will do it and it will be great.". Mutual Fund and ETF data provided byRefinitiv Lipper. Burn. in commercials. Many fans took to the internet to criticize Ticketmaster's handling of the pre-sales, including Rep. Alexandria Ocasio-Cortez, D-N.Y. Ticketmaster merged with Live Nation in 2010, a move which has been criticized as creating a monopoly. It used to be that people spent $20 on an album, and if we sold a lot of albums, then we made a lot of money. 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. If chosen for the presale, fans were sent. Its an unusual part of the licensing arrangement in the United States, and its not common elsewhere. What Im getting at is that the marketing funnel is really hard. I have to say, Im not following it too closely because its such a complex ecosystem. 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. I dont know. She was very hesitant to participate in the new digital era, calling out the ways in which it was set up to exploit artists. 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. 4 tickets together to the ERA'S TOUR Taylor Swift on Saturday May 13th (5/13/23)! The music that we are able to listen to is music that can be monetized. For the labels, its very clear. She got into a big fight with Apple Music, which wanted to give Apple Music away to new subscribers for free for three months in order to build a user base. So the basic math of going on tour doesnt make sense not only because of all of those macro indicators, but also because there are more artists than ever that want to go on tour. Charlie was like, Well, there are two parts of the song. I had Loverfest tickets (which supposedly boosted me). So, yeah, its no wonder. 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 Despite the disruptions, the statement explained, the Nov. 15 sale broke the Ticketmaster record for most tickets sold for an artist in a single day, selling over 2 million tickets. I pay Spotify $15 a month. Thats why they want to do podcasts and why they have original videos. Dec. 12, 2022, 1:37 PM PST. You can just make a copy of a digital object and sell it again. A podcast from The Verge about big ideas and other problems. Were done. Li Cohen is a social media producer and trending reporter for CBS News, focusing on social justice issues. It was probably very difficult for an indie artist, because distribution was more challenging then. A group of 25 incensed Taylor Swift fans from across the country are suing Ticketmaster for fraud and intentional misrepresentation after last month's Eras tour debacle. Now theyre an audio company. The singer commented on the issue on her Instagram story on Friday, saying.
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