Six years after Scooter Braun infamously took control of her musical catalog - and four re-recorded albums later - Taylor Swift has bought back her missing masters. It's now the first time she's owned the rights to all of her music.
On May 30, Swift announced via her website that she had purchased the masters of her first six albums - as well as videos, concert films, art, photography, unreleased content and other related materials - after Shamrock offered her fairer terms. Billboard reports the buyback cost $360 million. The price is close to what Shamrock paid for the catalog in 2020, when Scooter Braun's Ithaca Holdings sold it to them.
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In the message on her website, Swift said: “All the times I was this close, reaching out for it, only for it to fall through. I almost stopped thinking it could ever happen after 20 years of having the carrot dangled and then yanked away. But that’s all in the past now… I really get to say these words: All of the music I’ve ever made… now belongs to me. All of my music videos. All the concert films. The album art and photography. The unreleased songs. The memories. The magic. The madness. Every single era. My entire life’s work.”
In her announcement, Swift expressed gratitude and praised Shamrock for how they handled the deal, noting they understood the deeply personal meaning behind the transaction. “My memories and my sweat and my handwriting and my decades of dreams,” she writes. “I am endlessly thankful. My first tattoo might just be a huge shamrock in the middle of my forehead.”
In June 2019, Scooter Braun’s media holding company, Ithaca Holdings LLC, acquired Big Machine Label Group. With that acquisition came the rights to Swift’s first six studio albums. Swift denounced the acquisition and criticized Braun and his “bullying.” She also said, “Scooter has stripped me of my life’s work, that I wasn’t given an opportunity to buy. Essentially, my musical legacy is about to lie in the hands of someone who tried to dismantle it.”
Braun told Variety in 2022 he "regrets" the way in which his acquisition of Swift's catalog was handled. Regarding Swift’s buyback of her masters, Braun said in a recent statement, “I am happy for her.”
Following the 2019 acquisition, Swift - who left Big Machine Label Group in 2018 to sign a deal with Universal Music Group - pledged to re-record her albums so that she could own the new master recordings. She made it two-thirds of the way through, releasing new editions of Fearless, Red, Speak Now, and 1989. According to her announcement, she finished the new version of her self-titled debut, but is not yet sure when it could be released.
As for Reputation (Taylor's Version), which was expected to drop soon due to "Look What You Made Me Do (Taylor's Version)" playing on The Handmaid's Tale...it seems as if that re-recording may be put on hold or possibly scrapped.
"I know, I know. What about Rep TV? Full transparency: I haven’t even re-recorded a quarter of it," Swift stated in her letter to fans. "The Reputation album was so specific to that time in my life, and I kept hitting a stopping point when I tried to remake it. All that defiance, that longing to be understood while feeling purposefully misunderstood, that desperate hope, that shame-born snarl and mischief. To be perfectly honest, it’s the one album in those first 6 that I thought couldn’t be improved upon by redoing it. Not the music, or photos, or videos. So I kept putting it off. There will be a time (if you’re into the idea) for the unreleased Vault tracks from that album to hatch."
The power of Swift's re-recordings may have had some influence in Shamrock's decision to sell the masters back to Swift. According to Billboard, the $360 million price tag of her masters implies Shamrock did not make much, if any, profit off owning her masters. However, the financial firm with ties to Disney still made a profit of around $100 million in total over the three plus years it owned the records. The six albums and two live albums Swift recorded when she was signed to Big Machine generated roughly $60 million a year on average globally from 2022 to 2024. Distribution, marketing and royalty payments to Swift likely consumed about 50% of that revenue, leaving Shamrock with an annual profit of around $30 million a year.
In 2023, Billboard reported the re-recordings of Swift’s albums Fearless (Taylor’s Version) and Red (Taylor’s Version) were vastly out-streaming their originals since the new versions were released, with the new Fearless earning three times the equivalent album units as the original, and the new Red as much as 10 times the original. As of May 22 according to Luminate, Speak Now (Taylor’s Version) has racked up 2.3 million equivalent album units to the original’s 8.6 million U.S. units, despite the latter having a more than 12 year head start; Red (Taylor’s Version) has accumulated 5.18 million equivalent album units to the original’s 9.16 million U.S. units, despite the latter having been released nearly 10 years prior to the re-recording; Fearless (Taylor’s Version) has accrued 3.0 million equivalent album units to the original’s 11.7 million U.S. units, the latter having had a 13-year head start; and 1989 (Taylor’s Version) has earned 4.87 million equivalent album units to the original’s 14.6 million, with a nine year gap in release dates.
Read Taylor Swift's full letter to fans below.
Hi,
I’m trying to gather my thoughts into something coherent, but right now my mind is just a slideshow. A flashback sequence of all the times I daydreamed about, wished for, and pined away for a chance to get to tell you this news. All the times I was thiiiiiiiis close, reaching out for it, only for it to fall through. I almost stopped thinking it could ever happen, after 20 years of having the carrot dangled and then yanked away. But that’s all in the past now. I’ve been bursting into tears of joy at random intervals ever since I found out that this is really happening. I really get to say these words:
All of the music I’ve ever made… now belongs… to me.
And all my music videos.
All the concert films.
The album art and photography.
The unreleased songs.
The memories. The magic. The madness.
Every single era.
My entire life’s work.
To say this is my greatest dream come true is actually being pretty reserved about it. To my fans, you know how important this has been to me — so much so that I meticulously re-recorded and released four of my albums, calling them Taylor’s Version. The passionate support you showed those albums and the success story you turned The Eras Tour into is why I was able to buy back my music. I can’t thank you enough for helping to reunite me with this art that I have dedicated my life to, but have never owned until now.
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. I will be forever grateful to everyone at Shamrock Capital for being the first people to ever offer this to me. The way they’ve handled every interaction we’ve had has been honest, fair, and respectful. This was a business deal to them, but I really felt like they saw it for what it was to me: My memories and my sweat and my handwriting and my decades of dreams. I am endlessly thankful. My first tattoo might just be a huge shamrock in the middle of my forehead.
I know, I know. What about Rep TV? Full transparency: I haven’t even re-recorded a quarter of it. The Reputation album was so specific to that time in my life, and I kept hitting a stopping point when I tried to remake it. All that defiance, that longing to be understood while feeling purposely misunderstood, that desperate hope, that shame-born snarl and mischief. To be perfectly honest, it’s the one album in the first 6 that I thought couldn’t be improved upon by redoing it. Not the music, or photos, or videos. So I kept putting it off. There will be a time (if you’re into the idea) for the unreleased Vault tracks from that album to hatch. I’ve already completely re-recorded my entire debut album, and I really love how it sounds now. Those 2 albums can still have their moments to re-emerge when the time is right, if that would be something you guys would be excited about. But if it happens, it won’t be from a place of sadness and longing for what I wish I could have. It will just be a celebration now.
I’m extremely heartened by the conversations this saga has reignited within my industry among artists and fans. Every time a new artist tells me they negotiated to own their master recordings in their record contract because of this fight, I’m reminded of how important it was for all of this to happen. Thank you for being curious about something that used to be thought of as too industry-centric for broad discussion. You’ll never know how much it means to me that you cared. Every single bit of it counted and ended us up here.
Thanks to you and your goodwill, teamwork and encouragement, the best things that have ever been mine… finally actually are.
Elated and amazed,
Taylor
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Article Image: Taylor Swift poses with vinyl recordings of her first six albums (@taylorswift via Instagram)
