Taylor Swift has brought her fans a little clarification as to what the hell is happening with the rights to her music, after it was confirmed that Scooter Braun sold them off for US$300 million to an ‘unknown investment fund’.
According to Swift, the masters to her first six albums were bought by Shamrock Holdings without her knowledge, and that she received a letter from them that asked if she would like to work alongside them.
Swift posted both a personal message for her fans and a letter that she wrote to Shamrock Holdings onto her Twitter. In the letter, she makes it clear that she was excited to work alongside Shamrock, until finding out that Scooter Braun would be making money from the masters for years to come, per the acquisition agreement.
In her personal note to her fans, however, Swift detailed that in her attempts to work with Braun to buy her music back, Braun asked Swift to sign an “ironclad NDA”, and that her legal team had “never seen an NDA like this presented unless it was to silence as assault accuser by paying them off.”
Been getting a lot of questions about the recent sale of my old masters. I hope this clears things up. pic.twitter.com/sscKXp2ibD
— Taylor Swift (@taylorswift13) November 16, 2020
“A few weeks ago my team received a letter from a private equity company called Shamrock Holdings, letting us know that they had bought 100% of my music, videos and album art from Scooter Braun,” she wrote on Twitter.
“As soon as we started communication with Shamrock, I learned that under their terms Scooter Braun will continue to profit off my old musical catalogue for many years.”
The note then goes on to confirm that her goal to rerecord all six of her first albums again in 2020 is still going ahead, and that there are many surprises in store. The note then wraps up with an explainer on what the second letter is.
“PS: for transparency and clarification, I have included the letter of response I sent on October 28, 2020 to the private equity group who purchased my music.”
The letter in question revealed that Swift was excited to work alongside Shamrock Holdings after discovering that they were to buy back her masters.
“I was thrilled with the idea of working with people who value art and understand how much my life’s work means to me,” she wrote.
“This is why I was so disappointed when I learned that under the terms of your acquisition, Scooter Braun and Ithaca Holdings will continue to receive many years of future financial reward from my music masters, music videos and album artwork.”
Naturally, there was also a bit of shade shot at Braun as well.
“I simply cannot in good conscience bring myself to be involved in benefitting Scooter Braun’s interests directly or indirectly.”
Ooft.
Things are looking somewhat up for Taylor from here, and honestly, it’s what she deserves.
