Taylor Swift has bought back her music in a multi-million dollar deal following years of heartache from losing the rights to her own work.
The 35-year-old singer released the first six albums of her career with Big Machine Records and that record label decided to sell the rights to her music to Scooter Braun for a deal worth $300 million.
Taylor launched her Taylor’s Version re-recordings in response to the sale and she has released four re-recorded albums in the years since, with two more possibly on the way still.
A new report has revealed how much money Taylor had to pay to buy back her original music.
Keep reading to find out more…
Scooter‘s Ithaca Holdings reportedly sold the rights to Taylor‘s music to Shamrock Capital for $360 million back in 2021.
Billboard reports that Taylor “paid a price close to the $360-million price tag Shamrock paid back in 2021,” which “would imply Shamrock did not make much, if any, profit off the sale of the assets.”
Shamrock still has earned plenty of money from the investment.
Billboard‘s report claims that Shamrock likely earned around $100 million in profit over the past three years of owning Taylor‘s music. This is from revenue generated by sales, streams, and licensing of Taylor‘s first six albums and two live albums.
Taylor revealed in her open letter to fans that she now owns all of her albums, music videos, concert films, album art and photography, unreleased songs, and more.
Scooter released a very brief statement in response to the news.
Source: justjared.com