Scooter Braun’s Ithaca Holding LC which had acquired Big Machine music label group nd all its recorded music assets around a year ago,sold the master rights of Singer Taylor Swift’s first six albums to an investment fund whose name is still unknown.
The deal was closed around 2 weeks ago for $300 million.According to Variety‘s speculation it could be as high as $450 million.
Big Machine which was founded by Scott Borchetta in2005 was bought by Ithaca Holding LLC in June 2019 for around $300million in this acquisition they encompassed all business of Big Machine which includes its Client rosters,publishing,distribution deals and owned artists masters.
Taylor Swift’s catalog which has her self titled debut from 2006 to Reputation album of 2017 which worth $140 million. Taylor’s contract with Big Machine had expired back in 2018 after which she signed a contract with the Universal Music Group
The promoter and his partners weren’t so pleased when Scooter Braun decided to auction his first six albums for $300 million. The culmination of a year-long headache began when he purchased Swift’s old label, the big machine.
Scooter Braun, Ariana Grande’s and Justin Bieber’s manager, had bought Big Machine to fuel his efforts towards becoming a billionaire. Big Machine’s roster of country stars is involved and produces currency. But right after the arrangement had been signed, Swift targeted Scooter Braun as a duplicate bully.
Swift refused repeatedly to talk to me about her beef with Braun, but it was obvious all along that she used personal animus against him to make a few bigger points about the music industry. As a typical case for a power imbalance in the industry — the artist’s label becomes prosperous — and social patriarchy — a man who manages the job of a woman.
Swift still protested that she didn’t have a chance to buy her work from Big Machine. By resigning with Big Machine, she should have received the albums back. And Swift has been given the chance to buy into her music in the case of the Shamrock contract. (at a higher price than he paid).
And Swift has been given the chance to buy into her music in the case of the Shamrock contract. She’s saying no. Not that she was upset that she did not own it, but because it would help Braun.