Taylor Swift just announced that she’s re-releasing her old album Red, but why is she recording all her old music again?
2020 was a crazy year for Taylor Swift. She released her eighth studio album Folklore, then five months later dropped another new album Evermore, bringing fans a whole wealth of new music.
At the same time, she was actually re-recording all of her old albums as well, and she’s going to release them one by one.
So why is Taylor re-recording all her old music? Well, it’s all to do with music mogul Scooter Braun. Here’s everything you need to know…
Scooter Braun bought Taylor Swift’s masters in 2019
As a teenager, Taylor Swift signed to Nashville-based record label Big Machine which was founded by Scott Borchetta in 2005. She released her first six albums with Big Machine and gained huge success in the music industry.
Then, in June 2019 Scooter Braun’s company Ithaca Holdings LLC purchased Big Machine for a huge $330 million.
When Scooter bought the record label, he also acquired the masters to all of Taylor’s music, meaning that he technically then owned all of her old albums.
Scooter then sold Taylor’s masters in 2020
The drama continued in November 2020 when just seventeen months after he purchased them, Scooter Braun sold the rights to Taylor Swift’s first six albums.
However, Taylor didn’t actually know that Scooter had sold her music in a deal that was thought to be worth over $300 million.
The new owners of her music are now a company called Shamrock Holdings, meaning that Taylor now has no ownership or control over her past music at all.
In a Twitter statement, Taylor said:
“A few weeks ago my team received a letter from a private equity company called Shamrock Holdings, letting us know that they had bought 100% of my music, videos and album art from Scooter Braun.”
Taylor said this is the “second time my music has been sold without my knowledge” and revealed that Scooter Braun will still “continue to profit” from the deal.
Taylor is now re-recording her old music
The only way for Taylor to gain back ownership of her music is to re-record her whole catalog, which is exactly what she’s doing.
After re-releasing her old music, she will then have to ensure that fans, adverts, TV shows, movies and other commercial users all play the new versions of the songs so that she profits from her music rather than Shamrock Holdings.
Taylor has already announced that she has finished re-recording her 2008 album Fearless (Taylor’s Version), the one that contains her hit single Love Story, and revealed that it will contain 26 songs including six unreleased ones.