At some point, she should go see her family. 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. She certainly wants to own this asset for the amount of money that can be made in streaming. Its part of the great scheme. There are a handful of presale events scheduled for Madonna's Celebration Tour before public sale . In response to the presale fiasco, more than two dozen Swifties teamed up and filed a lawsuit against Live Nation Entertainment. There was like a 10-year dark era, the Middle Ages, where the industry was searching for the next thing. Well, this is the thing. The share of listening minutes is divided by national pools. Spotify has to make it on its own. The question is, do we keep listening in this way? It wasnt at its lowest, but it was dropping quickly. All fans receiving this opportunity were notified via email on Monday, December 12. I just need guitar solos. Its all the best stuff. 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.". Thats really interesting to me, because the thesis of this conversation is that we have had 20 years of streaming and this model seems like its teetering. "Thank you for wanting to be there," she said. Taylor Swift | The Eras Tour Tickets Jul 01, 2023 Cincinnati, OH | Ticketmaster Sorry, tickets are not currently available online. So Taylor Swift puts out her first CD in 2006. What Im getting at is that they made physical things. She didnt want to participate in that model. They have been growing and they are listening in this way. Right. I think you have to live and breathe in it to really see the opportunities because its moving so quickly. 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. "Tennessee Attorney General Jonathan Skrmetti is concerned about consumer complaints related to @Ticketmaster. Ticketmaster still has 170,000 Taylor Swift Eras Tour tickets after its canceled general sale for the tour. That means I should be able to sell them no problem here. 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. We kind of know what they are. "We have already seen that Ticketmaster cannot arrange a pre-sale," she said. Depending on the deal with your label, you might only be seeing fractions of a fraction of a penny by the time it gets to you. LOS ANGELES, CA Trying to buy Taylor Swift tickets for the Eras Tour? Where is Groove? Now theyre an audio company. It is being monetized, and there is a lot of money flowing. The singer commented on the issue on her Instagram story on Friday, saying. If so, I think this is where all the hedge funds buying up these music catalogs will have been overwhelmingly right, and they will shove it in our faces and say, Look, this stuff was worth a hundred times more than what you thought it was, because when youre in these virtual worlds, all you want to do is have some great background music going on. Unless that all just gets written by AIs, then maybe not. They are certainly desperate and in need of something at this point. Its just like, Youre going to have to deal with it.. One, I think we both very much like Taylor Swifts music and we think shes a good musician. Very much so. The next decade of her life was basically one battle after another with streamers, trying to make things better. I also think the mathematics of the model get really weird once youre talking about share of listening on a global basis. The series of concerts is . They want to have a relationship with it. This was a religious war inside the tech and media industries. 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. That dynamic, where you expect more but pay less and the artists are openly struggling, is the most unusual thing about music to me. 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. Its the future of music. Again, it stood as an admission of, We cant sell this stuff. Taylor Swift is a beloved performer and getting tickets to her concerts can be a real headache sometimes. Once again, probably best not to get your hopes up. There are many versions of this story. Selling Taylor Swift ERA tickets on Stubhub - Questions! With music, the expectation is that it is effectively free. Spotify is the only major streamer that is not subsidized by a larger tech company. 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. The documents cited the "disaster" that occurred on Nov. 15 and Nov. 16, along with the "cancellation of general sale tickets scheduled for Nov. 18," alleging that Ticketmaster "has effectuated this anticompetitive scheme by forcing fans of musicians to exclusively use Ticketmaster for presale and sales prices, which are above what a competitive market price would be.". I think that they were smart to chase what the people were doing. That is true. 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. FOX Business Flash top headlines for November 17. Its both, because she is putting out vinyl. There was some weirdness with it, but the artists seemed happy with that arrangement. 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. She has committed hard to the songwriting and music thing, and this next tour is set to supposedly maybe make her a billionaire. (Getty Images / Getty Images), SPOTIFY CROWNS TAYLOR SWIFT'S MIDNIGHTS AS MOST-STREAMED ARTIST, MOST-STREAMED ALBUM. The saga started back when Swift first announced she was going on tour following the release of her 10th studio album, Midnights. Thats all flipped now. Theyre making a really big gamble about their future. There are all kinds of new ways to participate. Maybe you buy a movie on iTunes for $20 or $30. Now heres 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. 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. In total, the company explained, 2.4 million tickets were sold across the Verified Fan and Capital One sales on both Ticketmaster and SeatGeek. Since that time, hundreds of thousands registered for the right to purchase tickets days earlier than otherwise available through Ticketmaster. They want to own it. Shawn Mendes was a Vine star. Everybody gets it. At some point, she met the industry in the middle. Obviously, young Taylor Swift was going to want to have a great record deal so that her music could end up in every single store and car stereo. At the end of the month, Spotify looks at all the stuff I listened to and says, Okay, you listened to $10 of Taylor Swift and $5 of Guns N Roses, and then takes my $15 and gives to those artists in proportion to how much I listened to their music that month. Music is weird in that it seems utterly ubiquitous, but its actually consumed the most by, and obsessed over the most by, a fairly small group of people. Its just, Click on this one instead of that one, and her fans are all doing it. The next thing, or at least the promise of the next thing from some very motivated members of the industry, is crypto shit. All rights reserved. That is the big question. Lets talk about the future of music now, and the new trends were seeing, the things that are coming next. Thats what Im saying. Unfortunately, a lot of them dont then translate into fan bases that will come out and buy tickets to shows. The Swifties are seeking $2,500 for each civil violation. I feel like I always force you into this every time youre on our show. 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. Talk to us about the CD era. We want to look at how many Instagram or Twitter followers you have. Well, if you want to do a 20 best guitar solos of all time conversation, we can start a whole new podcast on that. Willing to separate in pairs of 2 for $1350 each pair! >Selling to be able to purchase for a different date as my dad has his doctoral graduation that day . Legal Statement. Swift said she hopes that she can provide more opportunities in the future for all of her fans who weren't able to get tickets to the tour. Talk to us about the CD era. It was probably very difficult for an indie artist, because distribution was more challenging then. This doesnt make any sense.. The singer commented on the issue on her Instagram story on Friday, saying that . 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. Im off., Nilay, heres the thing: that is the model of streaming. Oftentimes you can buy greatest hits records, and its not actually the greatest hits, its re-recordings of the greatest hits. They were the dominant form of revenue. Its not clear who listens to it and how, it devalues fans, there were all kinds of ways that people were very unhappy with how they got paid out. Absolutely, there was clarity. Mix. Market data provided byFactset. The ticket-selling. It was hard to get national or global distribution without a label. The singer commented on the issue on her Instagram story on Friday, saying that . Where is Zune? They were smart to follow what the crowd was doing. We've been doing this for decades together and over the years, I've brought so many elements of my career in house. If youre the biggest artist in Germany, you should still be rich, even if your share of listening minutes is not. The Capital One presale was also rescheduled for the following day. 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. The most exciting thing in music is that people control more of their destiny. When fans eagerly showed up to try and purchase tickets on Nov. 15, however, they were met with a litany of issues on the Ticketmaster website. To get the $20 at the end, we have to front too much money. ", "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. The Grammy winner also wrote that the situation "really pisses me off" and that she was actively working on a solution for her fans. This is what I keep coming back to. There are still cracks in the model, right? Its beautifully made music, and I understand that they were all dating each other and you can just hear the pain, but I find it tedious and boring. Surely. Li Cohen is a social media producer and trending reporter for CBS News, focusing on social justice issues. "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. ", Swift said Friday that the controversy occurred because of a "multitude of reasons," and suggested that the blame for the situation falls on Ticketmaster. Copyright 2023 CBS Interactive Inc. All rights reserved. Swifties reported website outages and hours-long waits only to log off empty-handed. Lets talk about the last $20 that the industry thinks it might be asking for. Your job is to go make a ton of bets and hope that one of those will fund all of the bets that fail, and that it does so extremely well and makes you a lot of money. What do you think of it? Then theres the next stuff, like the actual threats. (Gareth Cattermole/TAS18/Getty Images for TAS / Getty Images), A Live Nation shareholder claimed 14 million people attempted to purchase Taylor Swift presale tickets on Tuesday ahead of the pop star's "The Eras Tour.". Whats going to happen is your subscription is going to get pooled together with all of the other subscriptions, all of the other listeners, and all of their listening. The publishing royalties were smaller then, but you got them for every single song, whereas today, you only get publishing royalties when someone actually listens to a song. Obviously, with an NFT, you dont have to front the cost of a tour and you dont have to manufacture clocks. TikTok is profound, and it has very meaningfully shifted what is happening in music.. Charlie, I think the algorithm might be better than you think. The expectation from the fans now is that youre going to mount a spectacle. I mean, you cant take that away. That is ultimately the place where youre most likely to be making your money. Right, because Ticketmaster is owned by Live Nation, which owns all the venues, and that is all part of the same company that owns SiriusXM, which promotes the things on the radio. 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. . EMI was eventually bought by Universal, so there was a lot of consolidation on the label side. They cant control their costs. You could walk into the store and see that your thing was the most billboarded. That is not at all how it works. (Matt Winkelmeyer/TAS18/Getty Images for TAS / Getty Images). I mean, well find out. "Though AOC may not like every element of our business, interestingly, AEG, our competitor, who is the promoter for Taylor Swift, chose to use us because, in reality, we are the largest and most effective ticket seller in the world," he said. A group of 25 incensed Taylor Swift fans from across the country are suing Ticketmaster for fraud and intentional misrepresentation after last months Eras tour debacle, The Post can confirm. Part of what youre saying, Nilay, is that music is more valuable than it has ever been. Now every single time that people stream these songs, she gets more of the share of that stream if they listen to Taylors version. It's been a long time coming .". You had a whole different set of distributors, given that there were physical goods, but most of them have shut down. I love having you on the show. I think Dua Lipa has been on tour for five years. 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. She knows that super fans will buy not only vinyl, but also the super deluxe vinyl version of the collectors thing and blah, blah. People do not want it to be taken away from them and big tech companies know that. The idea is that you have to just accept that people want access to everything all the time. It was an interesting era to launch a music career, because it really was towards the death of the CD era. One thing that is very funny, as I look back on covering tech for the last 10 years, is how much user growth these companies achieved just by launching in additional countries. I had Loverfest tickets (which supposedly boosted me). Certainly, BTS fans are really upset that Ticketmaster is getting an antitrust look at this moment from Taylor Swift sales when they have been complaining about the same issues for many years. She has mastered the album release cycle. Were talking about crypto. "The site was supposed to be opened up for 1.5 million verified Taylor Swift fans," he said. So yes, there are other breakout stars, and there are more and more of them every single day. "Congratulations, you have been selected to participate in a limited-time opportunity to request to purchase 2 tickets to Taylor Swift The Eras Tour," the note read, per Billboard. Heres how I think most people think their streaming subscription works. 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. Greg Maffei, CEO of Liberty Media, opened up about the ticket fiasco during an appearance on CNBC's "Squawk on the Steet." They are able to get out of there and cash out on the venture capital model. Ticketmaster has canceled the public sale of Taylor Swift's "The Eras Tour" after high demand in the pre-sales. Ticketmaster no longer wants to be the "Anti-Hero" to Taylor Swift fans. Li Cohen is a social media producer and trending reporter for CBS News, focusing on social justice issues. I would pick Lil Nas X as well. Those fans arent going to stick around forever. Thats very dark. Music broadly has two big licenses. The other is the publishing, which is the songwriting, the words, the music, and the abstract concept of the song that anybody else could cover. The mega ticket marketplace has apologized but its not enough for these diehard Swifties, who are claiming Ticketmaster purposefully misled presale ticketbuyers when it could not satisfy ticket demand.. </p> Vinyl is a small but meaningfully growing share of the music revenue pie.. I mean, its like the bigger internet story, in that you can find more interesting, beautiful, and special little things. If you go see an Avengers movie, you might spend $20 on a ticket plus popcorn, or if you watch it on streaming, you might spend an enormous amount of money for those streaming services. Which is NFTs. Just by Googling the name of the song, you can probably find a way to listen to it. Given the success of Midnights, Swift's overall popularity and the fact that the singer-songwriter's previous tour had been canceled due to the pandemic, Eras was immediately projected to be the hottest ticket of the year. The industry is very mad at Apple for this, but the iPods ascendancy is there. "If Chick Fil A was in charge of the Ticketmaster queue I would've had Taylor Swift tickets within MINUTES just saying," a Twitter user wrote. If you were a songwriter like Taylor Swift, you would also get a cut of the publishing royalties. Theyre past their prime. Even before ticket sales kicked off, the demand for Swift's upcoming tour was high so much so that the Midnights singer added an . Update: On Thursday, Nov. 17, Ticketmaster tweeted, "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.". Nov 18 2022 by Eden Arielle Gordon. <p>Taylor Swift | Era's Tour | 1st Floor Ticket | With It's Been A Long Time Coming VIP Package| Los Angeles 8/8. "I never could have imagined how insane this whole process has been," one of Swift's fans, Amber Garis, told CBS Mornings. 4 tickets together to the ERA'S TOUR Taylor Swift on Saturday May 13th (5/13/23)! "Its a function of Taylor Swift. 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. I think that in continuing to connect with fandoms, there is always going to be a world of people making music and playing music for people because we love human connection. Only ticket buyers who were verified were permitted to enter a queue. 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. The music industry has certainly bet a lot of its time there. Whenever I think about the state of the music industry and its business, I find myself coming to talk to Charlie Harding. All of that was promotion for you to go spend $12 or $13 on a CD, or 99 cents on a song in the iTunes store. She has inhabited a lot of them and been able to go with the changes in a way that many artists have not. November 18, 2022 / 1:08 PM Its like, Ugh. People often want to be mad at Spotify, and there are very reasonable objections to be had, but Spotify is right to say that they pay out billions of dollars per year to rights-holders. Is the music on streaming still just marketing for that stuff, or is that valuable to her now as well? I think this is a question I always have. Microfiches do that. The site was supposed to open up for 1.5 million verified Taylor Swift fans," Maffei said. I mean, it puts us a bit more into the world and conversation of content creators. 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. She is very online herself, for better or worse, and she understands the rhythms and the dynamics of her fandom and how it interacts with other fandoms. So not all the music, but effectively. 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. As an old-school punk rock guy, there is a part of me that deeply vibes with his ability to be subversive, and it transcends the fact that he broke out on TikTok. Tickets on Stubhub - Questions out on the issue on her Instagram story on Friday, saying challenging then maybe! She said Tour is set to supposedly maybe make her a billionaire was on. And its business, i 've brought so many elements of my career in house the Middle Ages, the... End, we have already seen that Ticketmaster taylor swift era tickets ticketmaster not arrange a pre-sale, & quot ; &... Be asking for the state of the music on streaming still just marketing that! 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