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. Tennessee Attorney General Jonathan Skrmettivowed to investigate Ticketmasterafter his office was flooded with messages fromirate concert hopefuls. The tour is set to kick off in Arizona in March and wrap up in Los Angeles in August. Fans are also quite unhappy with a lot of these ticketing issues as well, obviously. If you go back in this episode to when I asked Charlie to explain music licensing, there was a sigh. Actually the last half hour of this episode is you just doing a solo. Those fans arent going to stick around forever. Thats very dark. Tickets for the Era tour were first available to purchase on Nov. 15 at 10 a.m. local venue time for the lucky 1.5 million fans who received Verified Fan codes. / CBS News, Taylor Swift is speaking out amid the controversy surrounding Ticketmaster's handling of her upcoming "Eras" tour. TAYLOR Swift is set to release more tickets for her The Eras Tour after thousands of fans missed out on Ticketmaster. It wasnt at its lowest, but it was dropping quickly. Taylors attempts to remake the music industry in the middle streaming period, as you might call it, all basically came to nothing, besides maybe a little more money or clout with the industry. Its a part of their portfolio to help them sell phones, or to help them sell everything in cardboard boxes or whatever it might be. ", 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. That would be nice and simple, but no, that is not at all how it works. In the case of touring, there are way more artists than ever that want to tour at the moment because they had to hold back during COVID-19. "It's truly amazing that 2.4 million people got tickets, but it really pisses me off that a lot of them feel like they went through several bear attacks to get them.". So Taylor Swift puts out her first CD in 2006. 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. Shes a great musician, shes also just very good at making money. Verified fans were given codes to enter the Ticketmaster pre-sale on Tuesday, but many claimed their codes did not work. Music broadly has two big licenses. He doesnt just get the TikTok platform. Lisa Marie Presley's net worth: Losses, lawsuits and Graceland, Marie Osmond says her kids won't get an inheritance, Former "American Idol" contestant C.J. By suppliers, you mean the musicians themselves? On November 15 . I dont think so. They are now the distributors of music. Do they know that their business is out the window? (Fox News Digital / Fox News). Okay, theyre working to sell my product because they have a financial stake in the product too.. "I never could have imagined how insane this whole process has been," one of Swift's fans, Amber Garis, told CBS Mornings. Spotify is the only major streamer that is not subsidized by a larger tech company. I want to sell my TS Eras tickets here on stubhub. The labels themselves are saying, Were not going to sign an unsigned artist. The value exchange they did at the beginning in the CD era, where they fronted a bunch of money to an unknown artist and spent a bunch of money on promotion and cocktail parties for Tower Records middle management retail employees, that is all out the window. Music listening may be seasonal. While they estimated that only 15% of users experienced issues, Ticketmaster recognized "that's 15% too many, including passcode validation errors that caused fans to lose tickets they had carted." November 18, 2022 / 1:42 PM These streaming platforms, which were valued as tech companies, are actually just digital media companies. Taylor Swift fans who are registered as "verified" may have a second shot at tickets to her "Eras Tour" as Ticketmaster tries to make things right after its website crashed last month amid an onslaught of orders. The industry crashed out because of piracy. Get browser notifications for breaking news, live events, and exclusive reporting. This is nothing new. Part of what youre saying, Nilay, is that music is more valuable than it has ever been. Swift hastwo shows scheduled in Pittsburghfor June 16 and June 17. To get the $20 at the end, we have to front too much money. "We will sometime soonish. It was almost like the launch of MTV in terms of a new place for people to be able to make hits with audiences that had been underappreciated, mostly young people hanging out on their phones. She got into a big fight with Apple Music, which wanted to give Apple Music away to new subscribers for free for three months in order to build a user base. So, yeah, its no wonder. Theres publishing and this, et cetera Its the exact same sigh when people have to explain NFT copyright. The 33-page lawsuit was filed Friday in Los Angeles, attorney Jennifer Kinder told The Post. Metallica: famously unhappy about the internet. There was some weirdness with it, but the artists seemed happy with that arrangement. Thank you for your patience as we continue managing this huge demand.. I want it in bigger places. The singer commented on the issue on her Instagram story on Friday, saying that . You have to make it on your own. Lets talk about the last $20 that the industry thinks it might be asking for. From a listener point of view, no wonder we were unhappy. It's truly amazing that 2.4 million people got tickets, but it really pisses me off that a lot of them felt like they had to go through several bear attacks to get them. "We had 14 million people hit the site, including bots, which are not supposed to be there.". Ticketmaster crashed when demand was higher than anybody behind the sales seemingly prepared for, which has resulted in a lot of frustration that fans haven't been afraid to share in the days since. If you contributed to an album, then you were paid out for someone buying the whole thing, even if you only contributed one song to it. I know we have to talk about the power of TikTok and why it has been the most profound, radical, and fastest change I have ever seen in the music industry, but I also think that the algorithm is overblown. The Swifties are seeking $2,500 for each civil violation. GettyTaylor Swift is set to release more tickets for her The Eras Tour after thousands of fans missed out on Ticketmaster[/caption] Fans were left . I want to talk about that conversion funnel real quick. Please keep in mind: Capital [] Tickets, $40-$146, Seat Geek. Its not clear who listens to it and how, it devalues fans, there were all kinds of ways that people were very unhappy with how they got paid out. Im not betting against streaming and Im not betting against music, but the business model itself feels like it is one that is certainly not sustainable in the extremely long term without either raising prices a lot, creating magic user growth by finding another planet of humans that havent subscribed to a service yet, or some other miracle that I dont understand. Ticketmaster cancels general public sale of Taylor Swift tour tickets. I think that piece of it is the thing that makes her the most unusual. So, in this episode, Charlie and I walk through a brief history of the music business which, despite its ever-changing business models, is permanently trying to find something to sell you for $20, whether thats the music itself, all-access streaming, merch, and even NFTs using Taylor Swift as a case study. Theres certainly the value of the music in advertising sync and getting it synced in video and so on. Here's Everything to Know. Ticketmaster no longer wants to be the "Anti-Hero" to Taylor Swift fans. Ringtones was one of them.. Each of you listening is not going to give them that nice $5. We map her big moves against the business of music over time to try to see if this really is the end of an era. So when everybody wants to do that at the exact same time, all of the venues and all the promoters are now in a place where I mean, I would book Harry Styles for 30 years of residency or put Taylor Swift on tour forever if I were Ticketmaster, because there is so much potential revenue to be made off of ticketing fees in those scenarios. In her case, she doesnt have any ability to do so because it is owned by a financial family fund that doesnt want to give it to her. A group of 25 incensed Taylor Swift fans from across the country are suing Ticketmaster for fraud and intentional misrepresentation after last month's Eras tour debacle. For example: based on the volume of traffic to our site, Taylor would need to perform over 900 stadium shows (almost 20x the number of shows she is doing)that's a stadium show every single night for the next 2.5 years. I was a collector. He creates whole media cycles off of the things that he makes. I was like, Napster is the future of the industry! I think underneath that is a recognition from the listener that your relationship is with the artist. It is fascinating to me that she is able to pull it off in this way, because there is no secondary transaction. "Due to extraordinarily high demands on ticketing systems and insufficient remaining ticket inventory to meet that demand, tomorrow's public on-sale for Taylor Swift | The Eras Tour has been cancelled," Ticketmaster shared Thursday on Twitter. 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. If we think that the payout structure of streaming is convoluted, then I especially dont understand the fan model of the digital imagery side of NFTs that was so wildly promoted for many months until the great crash. 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. I am here for it. She wants to own every piece as much as she can, as long as this thing is still working for the rights-holders. The supply of music was growing, and the overall proportion of revenues per artist per song had been declining. The next thing, or at least the promise of the next thing from some very motivated members of the industry, is crypto shit. Its simple, it makes sense, its great for indie artists who are often devalued, and its great for fandoms to make sure that their money is really going to the people that theyre listening to. Thats where we should come to now. Ticketmaster cancels Taylor Swift public ticket sales due to demand, 'insufficient' supply. Its really easy to say to listeners, Hey, this thing doesnt make any sense, but that is the business model that we have all bought into, whether or not were conscious of it. Thats Decoder everybody. She added, "The first leg of the tour will be in stadiums across the US, with international dates to be announced as soon as we can! You can find out more and change our default settings with Cookies Settings. Its at a height, but its a height that feels like it cant keep going up. A few hours after the sale's planned start time, Ticketmaster tweeted that the issues were due to "historically unprecedented demand" and announced it was pushing back the start times for some West Coast venues. Harris dead at 31. He and his Consumer Protection team will use every available tool to ensure that no consumer protection laws were violated," his office tweeted Wednesday. I dont know. There are just countless ways that people are trying to use these, including ownership of actual music, being able to have an exclusive license to music, or weird pictures of gifs that were made by an AI. "Tennessee Attorney General Jonathan Skrmetti is concerned about consumer complaints related to @Ticketmaster. Talk to us about the CD era. And yet, not all the people are as rich as they should be. Just by Googling the name of the song, you can probably find a way to listen to it. I wasnt going to buy the nine-song record because CDs at my local Best Buy were very expensive. Its just like, Youre going to have to deal with it.. (Gareth Cattermole/TAS18/Getty Images for TAS / Getty Images), Taylor Swift performs onstage during her "Reputation" stadium tour in Arlington, Texas, on Oct. 5, 2018. There are some very meaningful, projectable revenues that can be made if you own all of your recordings, so she is taking those actions. Maybe I dont know myself. Its just that you cant do so in a way where there is the cost of creation and youre properly paying people for their work. Artists and performers didnt get paid off with radio streams unless they were a songwriter. The economics of this dont make sense for us. They already have leverage. You had a whole different set of distributors, given that there were physical goods, but most of them have shut down. "Well. Music is weird in that it seems utterly ubiquitous, but its actually consumed the most by, and obsessed over the most by, a fairly small group of people. They were the dominant form of revenue. Eras will be Swifts first tour since 2018, in honor of her 10th studio album, Midnights, which dropped in October. The second show was added along with more than a dozen other dates because of the huge demand. There was some amount of value there that you could see as an artist. The way you make more money is often either by getting your stuff to more people or by being some middleman who gets a better, stronger contract. You just need a safe space of Guns N Roses fans making only Guns N Roses content. She didnt want to participate in that model. Its too hard and theres no guarantee of return. That seems like that conversion funnel works for the artists it works for, but then for everyone else its too expensive to even make the thing that is worth asking for the money for. Now were in this inversion where the music is effectively free to listen to, and the artist wants your $20 for a concert ticket. Selling Taylor Swift ERA tickets on Stubhub - Questions! Apples basically saying, Listen, in order to launch a streaming service, we need a ton of users. Since it cannot sell music in that one-to-one transaction, it is forever on the hunt for the $20. Fans had until Nov. 9 to register for the Eras presale through Ticketmaster's Verified Fan program. Hopeful concert attendees could register in advance through Ticketmaster's Verified Fan Program for a Nov. 15 presale, while Capital One cardholders could participate in another presale happening that same day. Good at making money since it can not sell music in advertising sync and it. Wants to own every piece as much as she can, as long as this thing is still working the... Just digital media companies tech companies, are actually just digital media companies Swift ERA tickets stubhub. 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