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. There are just countless ways that people are trying to use these, including ownership of actual music, being able to have an exclusive license to music, or weird pictures of gifs that were made by an AI. There are people getting better label deals than ever before because they are building their own fanbases. 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 . I interviewed the artist Tai Verdes a year into the pandemic and he broke out his entire career on TikTok. 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. 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. (Fox News Digital / Fox News). Shes an amazing songwriter. (Fox News Digital / Fox News), Many fans sat in the Ticketmaster queue and were told they would need to start the process over. "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. I wasnt going to make playlists. 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. She withheld her back catalog from Spotify and Apple Music, but now theyre on Spotify and Apple Music. 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. I have just not been happy to see how the mad rush of everybody into printing funny little pictures happened. The singer's team has announced that some verified fans who weren't able to buy tickets last month will get a second chance. Spotify then launched in the United States in 2011. This is what I keep coming back to. Looks like I'll get to see more of your beautiful faces than previously expected we're adding 8 shows to the tour," the singer wrote on Twitter. That is ultimately the place where youre most likely to be making your money. Once again, probably best not to get your hopes up. They wont stop being around me, and its TikTok. 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. Ticketmaster still has 170,000 Taylor Swift Eras Tour tickets after its canceled general sale for the tour. Leading the charge is Utah interior designer Julie Barfuss, who tweeted last month that she spent more than nine hours on the SeatGeek site attempting to buy Swift tickets. 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 got them throught Ticketmaster. 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. She withheld her new releases from Spotify, but now her new releases are on Spotify. 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.". Microfiches do that. The 33-page lawsuit was filed Friday in Los Angeles, attorney Jennifer Kinder told The Post. Getty Images It . Again, I will say, I think the style of pop music in particular right now does not lend itself to the intimate club show. The demand "could have filled 900 stadiums," he said. No tickets and a card I cant use.. The logic of it makes sense. Maybe you buy a movie on iTunes for $20 or $30. It gets proven out in Europe over time. Because its marketing. Thats the other thing I want to stipulate. There is opportunity for someone to do something very creative and disruptive.. Taylor Swift's Eras Tour is on track to sell $591 . Well, the most important thing was Spotify getting the buy-in from the entire industry. Ticketmaster cancels Taylor Swift public ticket sales due to demand, 'insufficient' supply. Even if a lot of people listen to our music, were not sure how much we are getting paid.. The services are built on music, like audio trends, dances, and memes. All of the movie streamers do not give you all the movies. But yes, its just another place where the economics are not in the favor at all of the people producing the material. "UM. ", Swift said Friday that the controversy occurred because of a "multitude of reasons," and suggested that the blame for the situation falls on Ticketmaster. Here we go! You can make an entire business of curation in that way. She said she's "trying to figure out how the situation can be improved moving forward. The Post reached out to Ticketmaster for comment on the lawsuit. Yeah, I mean Metallica was also unhappy at the time, but they didnt have the same amount of clout. "We strive to make ticket buying as easy as possible for fans, but that hasn't been the case for many people trying to buy tickets for Taylor Swift | The Eras Tour," Ticketmaster began in the statement. 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. She has not yet had to make that turn, but the midline artist is desperate for the next thing they can sell. Thats a whole other show that we can get to some other time. 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 before ticket sales kicked off, the demand for Swift's upcoming tour was high so much so that the Midnights singer added an additional 17 performances, bringing the total to 52 shows. Its NFTs, its blockchain tokens, its whatever universe the DJs want to put together. Music broadly has two big licenses. Ringtones was one of them.. In many ways, she is at her height and shes still breaking records on charts. It was an interesting era to launch a music career, because it really was towards the death of the CD era. The question is, do we keep listening in this way? 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. The statement wrapped up by saying Ticketmaster is working on improving its technology for future sales, before offering some perspective on the scope of the demand for Era tickets. But instead and this is us coming to the next era all of that revenue went to zero. )," the Grammy winner wrote on social media. Everything has just become more expensive in our world with inflation. So, yeah, its no wonder. Please enter valid email address to continue. They would have to figure out how to succeed on the streaming side. Only ticket buyers who were verified were permitted to enter a queue. I was like, Napster is the future of the industry! I think underneath that is a recognition from the listener that your relationship is with the artist. The company later said that over 3.5 million users pre-registered for the sale, making it the largest registration in Ticketmaster history. So yes, there are other breakout stars, and there are more and more of them every single day. Ticketmaster later chalked the disaster up to "historically unprecedented demand," though Swift had some choice words for the company in her response, noting that she and her team had "asked them, multiple times, if they could handle this kind of demand and we were assured they could." The one place of hope that I see is that the value of most digital products at this moment, the NFTs, has declined so much. From a listener point of view, no wonder we were unhappy. 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. Now theyre saying, You need a following. 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. 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. YouTube is going to be fine because Google exists. What happens after you submit a ticket request? Shes saying, Heres Speak Now (Taylors Version), off we go, and now her fans have instant access. So when everybody wants to do that at the exact same time, all of the venues and all the promoters are now in a place where I mean, I would book Harry Styles for 30 years of residency or put Taylor Swift on tour forever if I were Ticketmaster, because there is so much potential revenue to be made off of ticketing fees in those scenarios. 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. Look, I recognize that it is beautifully made music. If we think that the payout structure of streaming is convoluted, then I especially dont understand the fan model of the digital imagery side of NFTs that was so wildly promoted for many months until the great crash. Dec. 12, 2022, 1:37 PM PST. I think that they were smart to chase what the people were doing. So, in this episode, Charlie and I walk through a brief history of the music business which, despite its ever-changing business models, is permanently trying to find something to sell you for $20, whether thats the music itself, all-access streaming, merch, and even NFTs using Taylor Swift as a case study. Search. So moving outside of the $1 million NFT to the $20 NFT, maybe there is an opportunity for more collectible items in this sense. 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. People arent getting paid enough. "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. Many fans sat in the Ticketmaster queue and were told they would need to start the process over. Were done. Ticketmaster said it saw a "historic demand for tickets" during Taylor Swift's presale Tuesday. Market data provided byFactset. Bad record contract or not, you still spent $20 and the artist and their label can now fight over how much of that $20 they get. "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. For all the other people who are listening to playlists and keeping music on in the background forever, those people are potentially diluting the listening of fans who only listen really closely to one artist for an hour or two a day. Its not the nicest ocean to swim in. Taylor Swift Makes Surprise AMAs Appearance in Golden Jumpsuit and Shouts Out Blake Lively! Notified fans will receive their individual invite to submit their purchase request prior to Friday, December 23. You have no idea how much that means.". It should be more valued, but there is certainly money to be made. Like everybody else, she has all those things, but she leans the hardest into music. 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. He noted that Swift's lack of concerts since her "Reputation" tour which ran from May to November 2018 could have contributed to the high demand. This doesnt make any sense.. And its getting harder because all of these things are marketing funnels for other places. 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.". He is a master of the platforms, and he makes compelling and well-produced content. Touring is certainly doing really well for her. Its going to be this AI-generated image of the music that you have the NFT to which will be valuable. I mean, talk about convoluted. But that share of the 100,000 songs a day that are being uploaded to Spotify from artists that are just getting going, I think a lot of those might actually never even come close to collecting $20. 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. You still have the music on streaming, but she also has a tour that everybody is dying to see. She was like, Im not doing that. "Even when a high demand onsale goes flawlessly from a tech perspective, many fans are left empty handed. ", 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. We dont need a bunch of 90s alternative band stans coming after us, but you could throw a dart at your average radio smash 90s act and their album would be full of a bunch of filler. Look, man, I came up in an era where a guitar solo in a small, smokey room with 300 people is perfect. However, I am worried at at some point the transferrable button will be unavailable. In this period she withheld albums from streaming at times, and removed her entire back catalog from Spotify. "Even our competitors want to come on our platform. "This exceeded every expectation," Maffei explained. Invitations will be staggered by tour dates in each city. They have been growing and they are listening in this way. The suit also alleged that Ticketmaster provided more codes than ticket allotment and scheduled the general ticket sale "knowing they would not have the quantity necessary" to fulfill the demand. This is how theyre going to bring all of their money in. 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. LOS ANGELES, CA Trying to buy Taylor Swift tickets for the Eras Tour? "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. Barfuss said she also tried the following day for the Capital One presale event, only to have my card declined because SeatGeek had charged over 40 transactions totaling $14,286.70 the day before. "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. Sign up for free Patch newsletters and alerts. 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. Thats the baseline expectation I think all of us have of the metaverse. Taylor Swift performs on stage during her "Reputation" stadium tour at Wembley Stadium in London on June 23, 2018. 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. If 20 years ago there was a, No streaming ever, were only ever going to sell CDs, to the, I dont want to hear a minute-long test version of a song, before you buy it on iTunes, there was a lot of holding back of their intellectual property. We can talk. 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. You can serve them too, by the way. ", Taylor Swift fans were disappointed in the experience with Ticketmaster. She got into a fight about Apple Music, but now shes one of the faces of Apple Music. So I think something could happen there. And yet, not all the people are as rich as they should be. The whole model feels utterly precarious right now. Now were in this inversion where the music is effectively free to listen to, and the artist wants your $20 for a concert ticket. ", The singer added that she was investigating why the situation unfolded the way it did and how it could be improved in the future. The Midnights singer's loyal listeners have taken the company to task after the ticket-buying process for her upcoming Eras Tour resulted in chaos. In total, the company explained, 2.4 million tickets were sold across the Verified Fan and Capital One sales on both Ticketmaster and SeatGeek. 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. The series of concerts is . That dynamic, where you expect more but pay less and the artists are openly struggling, is the most unusual thing about music to me. It seems like in the past two years especially, it has remodeled the music industry. Swift said there was "a multitude of reasons" why people had "such a hard time trying to get tickets" and is trying to figure out how to "improve" the disastrous rollout moving forward. She has mastered the album release cycle. 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. Now she has a massive fan base that she commands. Maybe I dont know myself. This is just part of a much larger trend of the financialization of music catalogs. 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. Taylor Swift Swift fans already know that this ticketing for the Eras Tour has been a nightmare and Ticketmaster has already given up on trying to fix 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. There are public funds now where you can invest in music publishing. How did that war play out in the beginning? Taylor Swift released her first album in 2006. When things cant keep going up in business cycles, investors take note and disruptors take note, and there will be something else at some other point. Li Cohen is a social media producer and trending reporter for CBS News, focusing on social justice issues. Now before we completely turned to streaming, the revenue model for touring and all the other stuff that artists did was inverted at that time. 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. I pay my $15 in and I spend 100 percent of my time listening to Guns N Roses; the other 99 subscribers pay their $15 in and spend 100 percent of their time listening to Taylor Swift. To get the $20 at the end, we have to front too much money. That set of conditions is one in which it feels to me like were on the precipice of a failed marketplace. Were talking about crypto. In response to the presale fiasco, more than two dozen Swifties teamed up and filed a lawsuit against Live Nation Entertainment. The Grammy winner also wrote that the situation "really pisses me off" and that she was actively working on a solution for her fans. 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. 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. 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