Taylor Swift's crusade for ownership of her albums serves as an exemplary showcase of artist control in the music industry.
By Sugandha Mukherjee
It's 2021, and the music industry is in for a transformation as artists like 14-time Grammy winner Taylor Swift dive back into the master recordings of their early work. This drive isn't merely about revisiting the past, but a strategic power move that aims to challenge norms and shake the foundation of West's music industry, marking a new era for artist-label relationships.
What Exactly are Masters?
At the heart of the music business lies the essence - 'masters,' the original version of a record, be it a snappy pop track or an entire album in Swift's case. Theentity controlling the masters holds the keys to decide where, when, and how the music is used, ultimately deciding the profit maker. Historically, record labels have persuaded fresh artists into contracts that often cede this control, providing them with the means to smoothen career paths, boost marketing efforts, and offer hefty initial investments.
Who Controls the Control?
Swift's story, starting in 2006, unfolds under Big Machine Records (BMR). However, when BMR was sold to Scooter Braun's holding company Ithaca Holdings, her master recordings went too, without her consent. Later in 2020, they were sold to Shamrock Holdings, effectively locking Swift out of her own music's reins. What followed was a massive, unprecedented response. In a declaration of independence, the artist re-recorded her albums, added new compositions, and asked her fans to stream and buy "Taylor's Versions," thereby giving her works a significant financial blow to the original masters.
"All I've ever wanted was the opportunity to work hard enough to be able to one day purchase my music outright with no strings attached, no partnership, with full autonomy," Swift penned in a letter to her fans announcing the ownership.
The Industry Impact
Swift is not the first to challenge the status quo. Prince's fight with Warner Bros in the 90s, fueled by a desire for creative freedom and ownership, serves as a long-standing example of the master rights struggles. In response, Prince changed his name to an unpronounceable symbol, wrote 'slave' on his face, and released music independently, ultimately regaining some control. In the streaming era, up-and-coming stars like Olivia Rodrigo have negotiated deals with Geffen Records, allowing them to maintain control over a portion of their master recordings, reflecting the industry's shift towards more artiste-friendly contracts.
The Shift from Exploitation to Empowerment
Historically, female pop stars like Madonna and Britney Spears have often been commodified, their image and songs controlled by labels and management. Swift's power play marks a shift towards acknowledging artists as entrepreneurs, working to build their intellectual property portfolios that go beyond music. This extends into merchandising, touring, and content rights.
In India, the dialogue on music ownership is evolving, but with similar concerns. The Copyright Act of 1957 and subsequent amendments have fortified performers' rights, creating avenues for artists and composers to claim royalties on public performances, broadcasts, and digital streams. Organizations like the Indian Performing Right Society (IPRS), headed by Javed Akhtar, facilitate royalty collections, demonstrating a growing awareness and concern for artist rights in the local industry.
Swift's struggle with master recordings is symbolic of a broader change, although her financial might makes her an exceptional figure capable of re-recording an extensive catalogue. As fans and stakeholders awaken to the knowledge that music is not merely art but an asset, the landscape of music rights transforms. Artists like Swift, Rodrigo, and icons like Prince coexist, shaping the newfound future of music rights across the world.
- The strategic move by Taylor Swift, a 14-time Grammy winner, to re-record her master recordings is not just a trip down memory lane, but a business strategy aimed at challenging the traditional power dynamics in the music industry and redefining artist-label relationships.
- In a significant financial blow to the original masters, Swift asked her fans to stream and buy "Taylor's Versions" after being locked out of her own music's reins following the sale of her master recordings without her consent.
- The music industry is witnessing a shift from exploitation to empowerment, with up-and-coming stars like Olivia Rodrigo negotiating deals that allow them to maintain control over a portion of their master recordings, reflecting the industry's shift towards more artist-friendly contracts.
- The struggle over master recordings by artists like Swift emphasizes the importance of intellectual property portfolios for artists beyond just music, extending into merchandising, touring, and content rights, and this is a conversation that is also gaining momentum in India.
