Scooter Braun sells Taylor Swift master recordings for $400 million to Shamrock Holdings

Taylor Swift’s ongoing rivalry with former music manager Scooter Braun is set to continue, with Variety reporting her master recordings have been sold once again without her knowledge, this time for upwards of $400 million. Less than a year and a half after acquiring Big Machine Label Group and all of its recorded music assets, Braun’s Ithaca Holdings has reportedly sold the master rights for Swift’s first six albums to private equity company Shamrock Holdings.

The singer-songwriter first signed with Big Machine Label Group at the beginning of her career and released her first six albums, from her self-titled debut album in 2006 to 2017’s Reputation, under the label, with her catalogue estimated to be worth around $140 million. The independent label was purchased by Ithaca Holdings under the guidance of Braun in June of last year for just over $300 million, encompassing all aspects of its business, including its client roster, publishing and distributing deals, as well as all owned artist masters.

After her contract with the label expired in the fall of 2018, Swift signed a deal for future recordings with Universal Music Group, under which her critically-acclaimed Lover and folklore records have been released. Since leaving Big Machine, Swift and her team have been unsuccessful in their negotiations with Braun to purchase back her previous masters.

After the deal was reported, Swift tweeted out a statement to her fans addressing the news and her efforts to purchase her previous work. The statement revealed unusual terms for agreement, claiming Braun and his team had informed Swift of her catalogue being up for sale, but would only allow her the opportunity to buy back her old masters by signing a non-disclosure agreement. This contract would forbid Swift to disparage Braun, which discouraged Swift from proceeding with any further negotiations.

In an effort to be transparent with her fans, the tweet also included a letter written from Swift to Shamrock Holdings regarding their purchase of her work. While optimistic at first to form a partnership with the company to protect her music’s legacy, Swift quickly understood Braun and Ithaca Holdings’ continued involvement with her work through the deal. Knowing Braun will continue to profit from her old masters through this arrangement, Swift stated her regret in not being able to work with Shamrock Holdings and will remain separated from the original recordings of her previous art.

Unable to own her work, Swift has previously confirmed her intentions to re-record her first six studio albums and is legally free to do so as of this month. In the statement, Swift revealed she has already begun the long-awaited re-recording process of her entire Big Machine catalogue. This move will diminish the value of the original masters, helping her to regain the creative freedom and ownership of her work.

As master recordings earn revenue through multiple avenues such as streaming and consumption, sampling, public broadcast, and use in film and television, Swift will have legal control over these assets by re-recording her previous work. In owning the updated versions of her songs, Swift can secure income made from the songs, ensuring the new reworkings are the ones played by fans and used in any commercial venture.

The firm issued a response to Swift’s intentions to republish her previous music, stating their respect and support for her decision to do so. The two parties have confirmed they remain open to a future partnership when beneficial for both, without the involvement of Scooter Braun.

The ongoing saga involving Swift’s master recordings continues to open discussion surrounding the rights of artists’ work. As the music industry continues to evolve, serious conversations between labels and artists are likely to continue to establish more rights for musicians and the ownership of their work.