The investment fund that acquired Taylor Swift’s music from Scooter Braun speaks out after backlash
Kevin Mazur/Getty Images for NetflixTaylor Swift expressed her outrage and disgust after it was announced that her nemesis, mega producer Scooter Braun, sold her master recordings to another buyer on Monday — a mere 17 months after acquiring them, which she claims was without her knowledge.
Now, Shamrock Capital Content Fund, the new owner’s of Swift’s back catalogue, which covers her albums from her eponymous debut album to Reputation, is speaking out after the intense backlash from fans and supporters of the “cardigan” singer.
In a statement to Rolling Stone, the investment fund called “Taylor Swift is a transcendent artist with a timeless catalog.”
“We made this investment because we believe in the immense value and opportunity that comes with her work,” continued Shamrock. “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,” the company continued. “We hope to partner with her in new ways moving forward and remain committed to investing with artists in their work.”
According to Rolling Stone, Shamrock reportedly owns $1.9 billion in assets.
As previously reported, Swift is now re-recording her old music after negotiations with Braun failed to buy her masters back from him.
Swift claims he wanted her to sign an “ironclad Non Disclosure Agreement (NDA) stating I would never say another word about Scooter Braun unless it was positive.”
The Grammy Award winner says that Shamrock reached out to her regarding the purchase, where she learned that “under their terms, Scooter Braun will continue to profit off my old musical catalog for many years.”
Swift maintains she will not partner with Shamrock on any plans to monetize her catalog, saying “Braun’s participation was a non-starter.”
By Megan Stone
Copyright © 2020, ABC Audio. All rights reserved.
By ABC Audio on November 17, 2020
Kevin Mazur/Getty Images for NetflixTaylor Swift expressed her outrage and disgust after it was announced that her nemesis, mega producer Scooter Braun, sold her master recordings to another buyer on Monday — a mere 17 months after acquiring them, which she claims was without her knowledge.
Now, Shamrock Capital Content Fund, the new owner’s of Swift’s back catalogue, which covers her albums from her eponymous debut album to Reputation, is speaking out after the intense backlash from fans and supporters of the “cardigan” singer.
In a statement to Rolling Stone, the investment fund called “Taylor Swift is a transcendent artist with a timeless catalog.”
“We made this investment because we believe in the immense value and opportunity that comes with her work,” continued Shamrock. “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,” the company continued. “We hope to partner with her in new ways moving forward and remain committed to investing with artists in their work.”
According to Rolling Stone, Shamrock reportedly owns $1.9 billion in assets.
As previously reported, Swift is now re-recording her old music after negotiations with Braun failed to buy her masters back from him.
Swift claims he wanted her to sign an “ironclad Non Disclosure Agreement (NDA) stating I would never say another word about Scooter Braun unless it was positive.”
The Grammy Award winner says that Shamrock reached out to her regarding the purchase, where she learned that “under their terms, Scooter Braun will continue to profit off my old musical catalog for many years.”
Swift maintains she will not partner with Shamrock on any plans to monetize her catalog, saying “Braun’s participation was a non-starter.”
By Megan Stone
Copyright © 2020, ABC Audio. All rights reserved.
