Hours after it was reported that Scooter Braun had sold the master rights to Taylor Swift’s first six albums following the acquisition of them just over a year ago (which came as a result of his company, Ithaca Holdings, obtaining Big Machine Label Group), Swift put out a statement through Twitter attempting to clear up some questions regarding the matter to fans.
In the posted statement she says Braun tried to get her to “sign an ironclad [non-disclosure agreement” that wouldn’t allow her to publicly speak about him unless the words she was saying were positive. She also says that, a few weeks ago, she was informed “100 percent of [her] music, videos, and album art” was purchased from Braun by a private equity company called Shamrock Holdings. She says that the deal will also allow Braun “to profit” off her old music catalog, and that she declined to partner with Shamrock (which she says she was open to) because it would also put her in a business relationship with Braun.
She adds that she’s re-recording old music, and that she has “plenty of surprises in store.”
You can read her full statement, which is also paired with the letter she claims to have sent to reps from Shamrock Holdings last month, below:
Earlier on Monday it was reported that, at some point over the last two weeks, Braun closed a deal that sold Swift’s masters for more than $300 million. Prior to Swift’s tweet, the purchaser was not publicly known.
Swift had been signed to Big Machine for 12 years—between 2006 and 2018—and released six studio albums with the label. After her contract expired she signed a new deal with Universal Music Group.
As for Ithaca Holdings, its purchase of Big Machine led to it obtaining that record company’s client roster, distribution deal, publishing, and owned artist rights.
Prior to this most recent sale, Swift had also spoken out about Braun first acquiring her masters (which is referenced in her just-put-out-statement with the line “this was the second time my music was sold without my knowledge”).
“This just happened to me without my approval, consultation or consent,” she said at the time. “After I was denied the chance to purchase my music outright, my entire catalog was sold to Scooter Braun’s Ithaca Holdings in a deal that I’m told was funded by the Soros family, 23 Capital and that Carlyle Group. Yet, to this day, none of these investors have bothered to contact me or my team directly — to perform their due diligence on their investment. On their investment in me. To ask how I might feel about the new owner of my art, the music I wrote, the videos I created, photos of me, my handwriting, my album designs.”