Over time, as more music ended up on Spotify and people diversified their listening, there was more competition. On Thursday, Ticketmaster canceled its general sale of the tour tickets that was supposed to debut on Friday after hours of complaints about pre-sale site complications and glitches. I want to talk about the arrival of streaming to music from about 2012 to 2017, and how Taylor Swift consistently pushed back against that business model. Those fans arent going to stick around forever. Thats very dark. Spotify has to make it on its own. Then she was like, I have a new record, but if you want to listen to it, you have to pay for it.. According to a Ticketmaster release, fans who received the email will receive a separate invitation where they can submit a purchase request to Ticketmaster by Dec. 23. I think a lot of it has to do with, frankly, mismatches of supply and demand. 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. We have seen tech stocks everywhere struggling. They just get put out for digital distribution. Go make a record. 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. What Im getting at is that the marketing funnel is really hard. Shes saying, Heres Speak Now (Taylors Version), off we go, and now her fans have instant access. I dont mean to be a firebrand here and bet against it. Leading the charge is Utah interior designer Julie Barfuss, who tweeted last month that she spent more than nine hours on the SeatGeek site attempting to buy Swift tickets. Hes another nuclear, bright talent. All presale codes and links sent via text will still work at that time, they said. There is only so far you can go with user growth in countries that have lower base income and where people have more sensitivity to price fluctuations. There is so much that is similar, especially the labels that have sustained, but how we interact with music and who distributes that music has radically changed. A group of 25 incensed Taylor Swift fans from across the country are suing Ticketmaster for fraud and intentional misrepresentation after last months Eras tour debacle, The Post can confirm. To get the $20 at the end, we have to front too much money. Theyre just like, I dont understand, big tech company. Its not that the music is worth nothing, its that most people are being compensated very poorly and have a barrage of bad contracts that they have not had any say in, whether those are the contracts that were signed between the majors and the streamers or the contract that they signed with their label. Taylor Swift has found the $20 in selling clocks, shoes, and all of the other stuff that shes managed to sell, and now very expensive tour tickets. Getty Images Do Guns N Roses get $0? She knows that super fans will buy not only vinyl, but also the super deluxe vinyl version of the collectors thing and blah, blah. Then you just have to hope that people are going to show up. It seems the only option is to go find radical alternatives and get into the world of crypto in order to survive in music. A report from our colleagues at Vox showed that less than 10 percent of those artists that broke out on TikTok in the 2020 window have gone on to create a successful touring career with people showing up and buying tickets. She got into a fight about Apple Music, but now shes one of the faces of Apple Music. "It obviously wasn't meant to be if we didn't get tickets but we're upset. The logic of it makes sense. The music that we are able to listen to is music that can be monetized. If so, I think this is where all the hedge funds buying up these music catalogs will have been overwhelmingly right, and they will shove it in our faces and say, Look, this stuff was worth a hundred times more than what you thought it was, because when youre in these virtual worlds, all you want to do is have some great background music going on. Unless that all just gets written by AIs, then maybe not. Shes not asking them to buy the record again. That just seems very untenable to me. Well, I want my money to go to the artist as directly as possible. "We had 14 million people hit the site, including bots, which are not supposed to be there.". There are people that make middle-class livings by doing Patreon and other subscriber-based tools that kind of exist at a hybrid of music and other content. 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. YouTube is going to be fine because Google exists. "I never could have imagined how insane this whole process has been," one of Swift's fans, Amber Garis, told CBS Mornings. There are hundreds of people who have been signed now off of the platform to label deals. That means I should be able to sell them no problem here. Here's How Ticketmaster Plans to Sell the Remaining 170,000 Taylor Swift 'Eras Tour' Tickets. I dont know. The sudden cancellation comes after Ticketmaster said Thursday that more than two million tickets were sold Tuesday for her upcoming tour the most ever sold for an artist in a single day. Where is Zune? According to Ticketmaster's recent release, West Coast ticket sales scheduled to begin at 10 a.m. PST would be pushed back to 3 p.m. It gets harder and harder to eke more dollars out of the rest of the globe. It fuels trends that are observed by billions of people within days. When there is no competition to incentivize better services and fair prices, we all suffer the consequences.". There are some very meaningful, projectable revenues that can be made if you own all of your recordings, so she is taking those actions. The singer commented on the issue on her Instagram story on Friday, saying. Please enter valid email address to continue. At the request of Swift's team, the ticket seller said on Monday that . I think Dua Lipa has been on tour for five years. The Midnights singer's loyal listeners have taken the company to task after the ticket-buying process for her upcoming Eras Tour resulted in chaos. There are still cracks in the model, right? The company did not say whether more tickets would be sold for the tour at a later date. If the songs are just marketing for tour tickets, then you should put the songs everywhere you can all the time. Queues for the West Coast tours in Los Angeles, Las Vegas, Santa Clara, and Seattle will open at 2:30 p.m., Ticketmaster reported over Twitter. You are having to convert people from place to place to place to place, and those platforms dont want you leaving. You were talking about how if you go viral on TikTok, then all of your fans will go listen to you on Spotify, then they might go buy a T-shirt, then they might end up buying a tour ticket. Theyre not a music company anymore. How much of that money went to her as the artist, in general? Tickets, $40-$146, Seat Geek. "Its a function of Taylor Swift. Taylor Swift's 10th studio album, "Midnights," was released on Oct. 21. 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 think there are many places in the whole music industry, in all aspects of it, that are struggling. 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. Looks like I'll get to see more of your beautiful faces than previously expected we're adding 8 shows to the tour," the singer wrote on Twitter. ", Senators Amy Klobuchar and Mike Lee announced that a U.S. Senate antitrust panel will hold a hearing "to examine the lack of competition in the ticketing industry. There was like a 10-year dark era where the industry was searching for the next thing. You heard it here first. Taylor Swift Finally Addressed the Ticketmaster Debacle. Thats usually the best outcome. They get early options in Spotify and they get guaranteed payments per year early on, so theyre certain that many millions of dollars are going to come into their coffers, even if no one listens to the service. 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. What happens after you submit a ticket request? If chosen for the presale, fans were sent. But the model of getting that $20 from touring isnt working for everyone. 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. Honestly, the only one that I would put money on right now is Lil Nas X. I mean Charlie Puth was a YouTuber. Eras will be Swifts first tour since 2018, in honor of her 10th studio album, Midnights, which dropped in October. Just to put a cap on this episode, what are the markers you see of positive change? She just wont stop. You and some of your listeners can dispute this, but music is not a technology business. Tuesdays top tech news: An Apple (a) day, Watch Apples 19-minute M2 MacBook Pro and Mini intro video, The Mac Pro is now Apples last machine with an Intel chip, Apples M1 iPad Air is back down to its lowest price, Apple announces MacBook Pros with M2 Pro and M2 Max chips. Ticketmaster still has 170,000 Taylor Swift Eras Tour tickets after its canceled general sale for the tour. / CBS News, Taylor Swift is speaking out amid the controversy surrounding Ticketmaster's handling of her upcoming "Eras" tour. 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. LOS ANGELES, CA Trying to buy Taylor Swift tickets for the Eras Tour? It might be undervalued financially, but in terms of value as humans, it is so essential to us. Thats actually maybe the most interesting piece of the TikTok puzzle, the Instagram Reels puzzle, and the YouTube Shorts puzzle. Powered and implemented byFactSet Digital Solutions. 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