Taylor Swift Buys Back Control of Her Early Masters

Taylor Swift announced Friday she had purchased the master recordings from Shamrock Capital, along with related assets like music videos, album art, and unreleased tracks. 

Key points:

• Price: While not disclosed, sources estimate Swift paid around $360 million, close to what Shamrock paid in 2020. Rumors of $600 million to $1 billion are considered inflated.
• Why It Matters: Swift now owns her entire catalog, giving her full autonomy over how her music is used. She described it as a “dream come true,” emphasizing the emotional weight of reclaiming “my memories and my sweat and my handwriting.”
• Fan Support: Swift credited her fans’ support for the re-recordings and her record-breaking Eras Tour (grossing over $2 billion) for giving her the financial leverage to buy back the masters.
• Shamrock’s Role: Swift praised Shamrock for offering fair terms, unlike her experiences with Big Machine and Braun, who she felt restricted her ability to negotiate

Master recordings are the original, finalized versions of a song or album, distinct from the song's composition (the lyrics and melody, which Swift retained as the songwriter). Owning the masters grants control over: Distribution, Licensing and  Monetization.

Without owning the masters, an artist like Swift would need permission from the rights holder (previously Scooter Braun’s Ithaca Holdings, then Shamrock Capital) to use her own music in certain ways, and the rights holder would profit from those uses.

Background of the Dispute

• 2004–2018: Swift signed with Big Machine Label Group at age 14, releasing her first six albums. The label owned the master recordings, a common industry practice at the time, as they funded production and promotion.
• 2018: Swift’s contract with Big Machine expired, and she signed with Universal Music Group/Republic Records, securing ownership of masters for future albums (Lover, Folklore, etc.).
• 2019: Big Machine was sold to Scooter Braun’s Ithaca Holdings for around $300 million, transferring Swift’s masters to Braun. Swift publicly criticized the sale, calling it her “worst case scenario” and alleging she wasn’t given a fair chance to buy her masters outright. She accused Braun of “manipulative bullying,” citing past conflicts involving Braun’s client Kanye West.
• 2020: Braun sold the masters to Shamrock Capital for over $300 million (reportedly around $360 million). Swift again claimed she was denied a reasonable opportunity to purchase them without restrictive conditions, like signing an NDA.

To regain control, Swift began re-recording her first six albums, creating new versions labeled “Taylor’s Version.” As the songwriter, she owned the publishing rights, allowing her to legally re-record the songs after a contractual waiting period. These re-recordings: Devalued the Original Masters: By releasing nearly identical versions she owned, Swift encouraged fans and licensors to use “Taylor’s Version” instead, reducing the commercial value of the originals held by Shamrock.