In 2019, music mogul Scooter Braun and his company, Ithaca Holdings LLC, made headlines by purchasing Big Machine Label Group for an astounding $300 million, which included the master rights to Taylor Swift’s first six albums. This acquisition sparked outrage among Swift’s fans and prompted an emotional response from the artist herself. Recently, Braun sold these master rights to another company, raising questions about how such transactions can occur in the music industry.
Swift’s catalog, spanning from her self-titled debut in 2006 to her 2017 album, Reputation, was valued at around $140 million, which means Braun profited significantly from selling her work. He was able to do this without contributing to the artistry or performance of the music, simply by acquiring and reselling her creations for profit.
On November 16, 2020, Swift took to Twitter to express her feelings about the situation and her attempts to reclaim ownership of her music. She revealed that her team had sought to negotiate with Braun for her masters but faced a daunting obstacle. “Scooter’s team wanted me to sign an ironclad NDA stating I would never say another word about Scooter Braun,” she stated.