In 2019, American star singer manager Scooter Braun announced spending a hefty $300 million to acquire Big Machine Label Group, the former record company of American pop diva Taylor Swift, obtaining the rights to Taylor's first six albums. Two years later, he resold the record company for $360 million to another company, Shamrock Capital, to make a profit. Taylor Swift has been upset about this and had disputes with Scooter, insisting that she wanted to buy back the album rights but was 'cut off' by him. However, yesterday Taylor Swift brought good news; she shared in a handwritten letter to fans announcing that she has bought back the rights to her old albums.
Taylor Swift described buying back the album rights as a "dream come true." She stated: "Dear fans, you know best what this means to me—so significant that I meticulously re-recorded the albums to release Taylor’s Version. It’s your love for these works over the years that has breathed life into the 'Eras Tour' and allowed me to return gloriously at this moment. My gratitude for your help has no words… Simply put, I am now the sole owner of my music rights. This message is especially for you—the warriors who stood by me throughout this long journey." After announcing the good news, her American football star boyfriend Travis Kelce liked her post on social media. Additionally, his teammate Patrick Mahomes and his wife Brittany also reposted Taylor Swift’s message.
Although Taylor Swift did not disclose the amount for the buyback of the rights, a music magazine reported that she might have repurchased the album rights at nearly the original price of $360 million. The rights-holding company Shamrock Capital had earned approximately $100 million over the past three years from album sales, streaming, etc., so they still made a profit. Taylor Swift also expressed special thanks to Shamrock Capital for being willing to sell the rights back to her, stating she will forever be grateful: "For them, it was a business transaction, but I truly feel they saw this as my memories, my sweat, my handwriting, and my decades-long dreams." She even joked about getting a Shamrock tattoo on her forehead as a token of gratitude. Scooter, when interviewed, also responded to Taylor Swift buying back the album rights, saying he was happy for her.
Source: on.cc