The multi-awarded singer took to Twitter on November 16 to speak out regarding reports that Braun sold Big Machine Label Group including the master rights to her first six albums. According to Variety, the sale was more than the $300 million that Ithaca Holdings LLC, Braun’s company, had initially paid to buy Swift’s former record label last June 2019.
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
Based on her Tweet, there were two screenshots. One was a message for her fans and the second was the letter she sent to the investment fund that made the deal with Braun.
She wrote, “Been getting a lot of questions about the recent sale of my old masters. I hope this clears things up.”
She explained, “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. This was the second time my music has been sold without my knowledge. The letter told me that they wanted to reach out before the sale to let me know, but that Scooter Braun had required that they make no contact with me or my team, or the deal would be off.”
Swift mentioned she had nothing against working with Shamrock but her feelings changed when she found out that Braun will still be able to earn from her music.
“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. I was hopeful and open to the possibility of a partnership with Shamrock, but Scooter’s participation is a non-starter for me.”
Swift is presently signed to Republic Records and Universal Music Group. She was also allowed to re-record her old music from her first six album since November 1 this year.
“I have recently begun re-recording my older music and it has already proven to be both exciting and creatively fulfilling,” she mentioned in her post. “I have plenty of surprises in store. I want to thank you guys for supporting me through this ongoing saga, and I can’t wait for you to hear what I’ve been dreaming up.”
Meanwhile, Shamrock expressed their support for Swift. A spokesperson told E! News in a statement, “Taylor Swift is a transcendent artist with a timeless catalog. We made this investment because we believe in the immense value and opportunity that comes with her work. We fully respect and support her decision and, while we hoped to formally partner, we also knew this was a possible outcome that we considered. We appreciate Taylor’s open communication and professionalism with us these last few weeks. We hope to partner with her in new ways moving forward and remain committed to investing with artists in their work.”
Swift has been very open about her feeling towards Braun who acquired her masters. Meanwhile, Braun has yet to issue his statement or comment regarding the songstress’ latest post.