Taylor Swift has criticized Scooter Braun over his sale of her master’s recordings to a private equity firm Shamrock Capital worth $300 million. She further accused Braun of an attempt to use a non-disclosure agreement to her terms regarding terms of a potential sale.
In a Twitter post, Taylor Swift revealed that Scooter Braun had recently sold her masters without her knowledge.
Been getting a lot of questions about the recent sale of my old masters. I hope this clears things up. pic.twitter.com/sscKXp2ibD
— Taylor Swift (@taylorswift13) November 16, 2020
Scooter Braun’s company Ithaca Holdings LLC in June 2019 purchased Nashville-based record label Big Machine which was founded by Scott Borchetta in 2005.
Big Machine signed Taylor Swift when she was a teenager and produced her first six albums. therefore, when Scooter Braun bought Big Machine, he acquired the masters to all of her music at $330 million.
Swift shared a letter sent to Shamrock Capital in October, saying she had hoped to work with the company following the sale, but “I simply cannot in good conscience bring myself to be involved in benefiting Scooter Braun’s interests directly or indirectly”.
Swift, after knowing that Braun would still profit off her work under the terms of the deal, Swift announced Monday that she had already begun re-recording her first six albums in an attempt to regain independence from the executive whose name alone regularly left he in tears.
Shamrock Capital has commented on the sale, said: “Taylor Swift is a transcendent artist with a timeless catalogue. We made this investment because we believe in the immense value and opportunity that comes with her work. We fully respect and support her decision and, while we hoped to formally partner, we also knew this was a possible outcome that we considered. We appreciate Taylor’s open communication and professionalism with us these last few weeks. We hope to partner with her in new ways moving forward and remain committed to investing with artists in their work.”
Braun has not commented on the sale yet.