Taylor Swift has her music catalog acquired

Mar 2012
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New Hampshire
Taylor Swift says she was "grossed out" by talent manager Scooter Braun's acquisition of her music catalog. Swift made the statement in a Tumblr post after Braun's media holding company, Ithaca Holdings LLC, acquired the company that owned her catalog.

Swift claimed she learned about the acquisition of Big Machine Label Group on Sunday "as it was announced to the world." She said the purchase was her "worst case scenario," since she doesn't own the rights to the music created while she was with the Big Machine Label Group.

She signed with the group at the age of 15. "I walked away because I knew once I signed that contract, Scott Borchetta (founder of Big Machine Label Group) would sell the label, thereby selling me and my future," she wrote. Last November, Swift switched labels and signed with Universal Music Group in an effort to own her music moving forward, The Associated Press says. "This is what happens when you sign a deal at 15 to someone for whom the term 'loyalty' is clearly just a contractual concept," she wrote of Borchetta.

The pop superstar accused Braun of "manipulative bullying" and targeting her at various points in her career with the help of other celebrities.

She included a picture in the post of pop star Justin Bieber, Kanye West, and Braun. She wrote on the photo, "This is Scooter Braun bullying me on social media when I was at my lowest point[.] He's about to own all the music I've ever made." Both Bieber and Kanye West are Braun's clients.

According to the AP, Borchetta posted a statement Sunday night on the Big Machine Label Group's website saying he told Swift's father, Scott, and other shareholders in a call on Tuesday of the upcoming Ithaca Holdings deal. Borchetta said, "I guess it might somehow be possible that her dad Scott" and others who were on the call "didn't say anything to Taylor over the prior 5 days. But, I truly doubt that she 'woke up to the news when everyone else did," ' Borchetta said.

Justin Bieber, Kanye West, Kim Kardashian West: Taylor Swift accuses Scooter Braun of "manipulative bullying" after he acquires her music - CBS News
 
Mar 2012
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New Hampshire
Why didn't she buy her own damn music years ago.
Good question. Have to assume her managers werent honest with her. You often hear a lot of celebrities losing everything either due to a poor manager or parent who handles their finances. She is old enough to have known better at this point.
 
May 2012
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Why didn't she buy her own damn music years ago.
She couldn't.

From what it sounds like is that they were trying to force her to sign back on the label and for every new album she created for them they would give her the rights back to an old album. It doesn't look like the label was ever actually on the market it was just sold in a private deal.
 

Ian Jeffrey

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How is this contract enforceable that was signed by a 15-year-old? There are ways to make it work, of course, but I would be interested in how it worked in this particular case.
 
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How is this contract enforceable that was signed by a 15-year-old? There are ways to make it work, of course, but I would be interested in how it worked in this particular case.
Her parents were her "managers" I believe when she started. So wouldnt they actually be the ones signing the contract? I am wondering if her parents either werent entirely trustful or not aware here of what was going on?
 
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Ian Jeffrey

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Her parents were her "managers" I believe when she started. So wouldnt they actually be the ones signing the contract? I am wondering if her parents either werent entirely trustful or not aware here of what was going on?
Sounds like there might not have been any legal advice going on there, either.
 
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Sounds like there might not have been any legal advice going on there, either.
Possibly although I did find this..

Swift was at an industry showcase at Nashville's Bluebird Cafe in 2005 when she caught the attention of Scott Borchetta, a DreamWorks Records executive who was preparing to form his own independent record label, Big Machine Records. She had met Borchetta in 2004.[33] Swift became one of the record label's first signings, and her father purchased a three percent stake in the fledgling company at an estimated cost of $120,000.

Taylor Swift - Wikipedia
 

Blueneck

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Her parents were her "managers" I believe when she started. So wouldnt they actually be the ones signing the contract? I am wondering if her parents either werent entirely trustful or not aware here of what was going on?
I think there's a level of scumbaggery in some people involved in the business part of the music business that is so treacherous, normal people can't conceive of the myriad of ways these people are poised to screw their own clients out of their money. When a young artist breaks big and fast like Swift and many others, the vultures swoop in and how would anyone who's not already an insider begin to know who to trust?

I have to say, while I'm not a huge fan of her music, I respect TS for speaking out against the parasites who take something like music and turn into a business not unlike prostitution. Some of these artists end up with like 1% of the money they generate.

I loved this explanation of how a successful group like TLC can go bankrupt by Lisa Lopes:


Unfortunately, the world is full of people who know how to suck every penny out of a dollar an artist generates. The possess no creativity of their own, but they sure know how to make more than the artists themselves end up with and I have no doubt they're also really good at convincing the naive that they have their backs and would never never shit on them.
 
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