", Ticketmaster then explained their Verified Fan process, which is tasked with "identifying real humans and weeding out bots." Theres huge supply strain constraints. I think that they were smart to chase what the people were doing. Theyre past their prime. There has been a realization that many of these streaming platforms, which had been valued as tech companies, are actually just digital media companies, and theyre trying to figure out how to pull in revenue after a decade of growth that has been funded by low interest rates and the natural business cycle of streaming. If and when virtual reality becomes a compelling, mainstream product for many, many people, music will certainly be at the centerpiece . He noted that Swift's lack of concerts since her "Reputation" tour which ran from May to November 2018 could have contributed to the high demand. The company noted that although they only gave out 1.5 million presale codes, the site was overwhelmed on the day of the sale due to fans who showed up without a code and a "staggering number of bot attacks.". I dont think we actually know, but if you were an artist at that time, how much of that money was coming to you? </p> Then you just have to hope that people are going to show up. All those folks who had secured really great deals and contracts, and who were making lots of money, were very upset by the piracy that started to take place around 2000. "We had 14 million people hit the site including bots, another story, which are not supposed to be there and despite all the challenges and the breakdowns, we did sell over 2 million tickets that day.". It was just three years later that streaming became the predominant revenue source for recordings. They give you the movies that they have licensed, then things just disappear and you no longer have them. They were the dominant form of revenue. Talk to us about the CD era. He and his Consumer Protection team will use every available tool to ensure that no consumer protection laws were violated," his office tweeted Wednesday. Its really hard to change behavior. Theres certainly the value of the music in advertising sync and getting it synced in video and so on. The company said the cancelation was triggered by unprecedented demand, with more than 3.5 million people pre-registered to get an access code for purchasing tickets. I have this theory that music is usually about five years ahead of the rest of media in terms of its relationship to tech whether thats new formats based on new tech, like vinyl to CDs, new business models like streaming, or simply being disrupted by new kinds of artists who use new forms of promotion, like TikTok, in unexpected ways. The one place of hope that I see is that the value of most digital products at this moment, the NFTs, has declined so much. Your job is to go make a ton of bets and hope that one of those will fund all of the bets that fail, and that it does so extremely well and makes you a lot of money. For all the other people who are listening to playlists and keeping music on in the background forever, those people are potentially diluting the listening of fans who only listen really closely to one artist for an hour or two a day. Where is Zune? Shes doing things that are pro-artist and pro-songwriter, but they are a bit more on the margins. Instead, what they do is they give out a proportion of their revenues. Make no mistake: Ticketmaster deserves the scorn that it is currently receiving from Taylor Swift's listenership, a population of such size and power that it probably merits a spot in the. But you are the artist. She said she's "trying to figure out how the situation can be improved moving forward. Shawn Mendes was a Vine star. Apples basically saying, Listen, in order to launch a streaming service, we need a ton of users. Its simple, it makes sense, its great for indie artists who are often devalued, and its great for fandoms to make sure that their money is really going to the people that theyre listening to. Ticketmaster, based in Beverly Hills, crashed shortly after 10 a.m. Tuesday after reporting historically unprecedented demand, with "millions of fans" showing up to buy tickets for the TaylorSwiftTix Presale event. So is everyone else. In the 2010s, with each record release, there seemed to be a major dispute with the streamers., Well in the 2010s, with each record release, there seemed to be a major dispute with the streamers. Tickets for the Era tour were first available to purchase on Nov. 15 at 10 a.m. local venue time for the lucky 1.5 million fans who received Verified Fan codes. The documents cited the "disaster" that occurred on Nov. 15 and Nov. 16, along with the "cancellation of general sale tickets scheduled for Nov. 18," alleging that Ticketmaster "has effectuated this anticompetitive scheme by forcing fans of musicians to exclusively use Ticketmaster for presale and sales prices, which are above what a competitive market price would be.". Do they know that their business is out the window? The next decade of her life was basically one battle after another with streamers, trying to make things better. I recognize Im a dinosaur and thats fine. / Sign up for Verge Deals to get deals on products we've tested sent to your inbox daily. You still have the music on streaming, but she also has a tour that everybody is dying to see. You understand the value exchange there, even if the label is taking too much money. That is a monopoly. It's really difficult for me to trust an outside entity with these relationships and loyalties, and excruciating for me to just watch mistakes happen with no recourse.". She has inhabited a lot of them and been able to go with the changes in a way that many artists have not. Because its marketing. Steve Aoki told us why hes doing the Aokiverse. A Live Nation shareholder claimed 14 million people attempted to purchase Taylor Swift presale tickets on Tuesday ahead of the pop star's "The Eras Tour." Its both, because she is putting out vinyl. I think there are many places in the whole music industry, in all aspects of it, that are struggling. High demand for Taylor Swift concert tickets led Ticketmaster to delay the West Coast pre-sale. You and some of your listeners can dispute this, but music is not a technology business. You can just make a copy of a digital object and sell it again. You are having to convert people from place to place to place to place, and those platforms dont want you leaving. Powered and implemented byFactSet Digital Solutions. I've done this SPECIFICALLY to improve the quality of my fans' experience by doing it myself with my team who care as much about my fans as I do," she wrote. Were talking about crypto. Here's Everything to Know. Apple Music is going to be fine because the iPhone is fine, right? Even before ticket sales kicked off, the demand for Swift's upcoming tour was high so much so that the Midnights singer added an . We definitely live in an era where the actual product is so devalued that all the people that make it are in a state of precarity. Taylor Swift fans who are registered as "verified" may have a second shot at tickets to her "Eras Tour" as Ticketmaster tries to make things right after its website crashed last month amid an onslaught of orders. )," the Grammy winner wrote on social media. How did Spotify do at that moment? This is the story of big content creators that has been coming out over the years of how actually truly demanding it is. "We will sometime soonish. There are just endless ways in which people have gotten the short end of the stick here, and she wants to have the biggest stick in the game and own as much of her music legacy as she possibly can. When you start getting into the number of people who are actually getting wealthy off of the streaming model, its a very, very small, elite group of people that get to have a successful music career. Notified fans will receive their individual invite to submit their purchase request prior to Friday, December 23. SeatGeek handled primary ticketing for a few stadiums. Go make your little startup, and when it starts selling, were going to take 90 percent. If its anything like venture capital, its that venture capital doesnt get terms as good as the music labels do. Ticketmaster no longer wants to be the "Anti-Hero" to Taylor Swift fans. Taylor Swift has mastered this inversion, creating demand for her actual physical albums, merch, and her tours. They still dont. We no longer have our Virgin Megastores selling all of our CDs to us, or Tower Records. Its not happening anymore. "Due to extraordinarily high demands on ticketing systems and insufficient remaining ticket inventory to meet that demand, tomorrow's public on-sale for Taylor Swift | The Eras Tour has been cancelled," Ticketmaster shared Thursday on Twitter. Music is weird in that it seems utterly ubiquitous, but its actually consumed the most by, and obsessed over the most by, a fairly small group of people. The Grammy winner also wrote that the situation "really pisses me off" and that she was actively working on a solution for her fans. We know were going to get a proportion of that. Its like, Ugh. People often want to be mad at Spotify, and there are very reasonable objections to be had, but Spotify is right to say that they pay out billions of dollars per year to rights-holders. All About Anna Olson, performers who will be joining her onstage. Just to put a pin in it, highlight it, circle it, bold, italic, and underline that inversion. Her career is definitely a good case study across the last almost 20 years. It feels like what probably needs to happen is subscription prices need to go up, there has to be massive cost-cutting, and there has to be user growth and diversification of business which again, I dont think music is a tech business. A lot of her actions have helped on the margins. So the person who took that bad record deal in the past, who does have the right to the songwriting, can re-record it and make more money off that record. You can get your one robot nursery rhyme to go viral on TikTok, but then you dont have any other moves. So moving outside of the $1 million NFT to the $20 NFT, maybe there is an opportunity for more collectible items in this sense. Since she has been listed as Billboard's Top Artist in the Artists 100 chart, with her song Antihero holding the top spot on the Billboard Hot 100 for the third week. Well, if you want to do a 20 best guitar solos of all time conversation, we can start a whole new podcast on that. On November 15 . They want to exit or they actually believe in this system and think that those revenues in the future are going to be very valuable. I was joking when we were doing our prep for the show that I have been trying to escape Fleetwood Mac since I was a teenager, and they just wont go away. I have just not been happy to see how the mad rush of everybody into printing funny little pictures happened. While appearing on The Graham Norton Show, the "Bejeweled" singer first teased an upcoming tour tied to the release of her latest album. Shes an amazing songwriter. In terms of it being a threat, though, I think its more a new pathway to potentially create stars. "It's truly amazing that 2.4 million people got tickets, but it really pisses me off that a lot of them feel like they went through several bear attacks to get them.". It met more needs for a smaller slice of people that were less discerning, and then it just took over everything because it was more convenient. So Spotify arrived internationally in 2006, famously as a response to piracy, especially in European countries, where piracy completely destroyed the industry. "I'm not going to make excuses for anyone because we asked them, multiple times, if they could handle this kind of demand and we were assured they could. Obviously, young Taylor Swift was going to want to have a great record deal so that her music could end up in every single store and car stereo. While it's impossible for everyone to get tickets to these shows, we know we can do more to improve the experience and that's what we're focused on," it concluded. The Post reached out to Ticketmaster for comment on the lawsuit. Theyre able to get their. Since then, Swift has released three new albums: "Folklore," "Evermore" and "Midnights. Its going to be this AI-generated image of the music that you have the NFT to which will be valuable. I mean, talk about convoluted. There was a better option. "The Eras Tour, a journey through the musical eras of my career (past & present!) TikTok is profound, and it has very meaningfully shifted what is happening in music.. Also unusual, because a lot of her peers that go off and make money do so primarily through means outside of music by starting fashion lines, restaurant chains, or whatever it might be. To get the $20 at the end, we have to front too much money. They are able to get out of there and cash out on the venture capital model. Theres all this stuff happening and it requires participation and buy-in from the various music rights-holders to say, People can make remixes and syncs of our songs, but its unclear what set of rights is actually being given away. Taylor Swift on Friday responded to fan frustration over the botched presale for her upcoming "The Eras" tour which led to Ticketmaster's decision to cancel the public sale of tickets. Then inside of that, you might make some ancillary deals to re-record or whatever. Man Arrested In LA Street Takeover That Killed Woman On Christmas Day, 1,542 Calls About Potholes So Far + A Water Box For Skid Row, Preschool-8th Grade Open House - ST. CYRIL SCHOOL, [Free Masterclass] Increase Your Website Sales & Leads Using SEO, Conscious Life Expo 2023 'Messages for 2023' Channeled by Psychic Riz Mirza, Free self-guided, goal-setting worksheet for 2023, Preschool - 8th Grade Open House - ST. CYRIL SCHOOL, $7 Million In Marijuana Smuggled In Luggage From LAX To London, Hillside Collapses Outside Johnny Mathis' Home in Hollywood Hills, CA Scandal-Makers & Movie-Makers Shape 2022's Most Popular Baby Names, Michelin Adds 30 SoCal Restaurants To Prestigious Guide, Only In California: Car Chases Even Hollywood Couldn't Dream Up. Taylor Swift's Eras Tour is on track to sell $591 . Thats Decoder everybody. They dont have exactly that license right now, as far as I understand. As the lucky fans who were selected for the presale attempted to join the waiting room queue for tickets, Ticketmaster is reportedly crashing on many people's devices. November 18, 2022 / 1:42 PM I dont think so. Theres a limit on venues and they all seem monopolistically controlled. The demand "could have filled 900 stadiums," he said. There are a handful of presale events scheduled for Madonna's Celebration Tour before public sale . 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