The artist’s scorn of Ithaca Holdings and The Carlyle Group highlight the sector’s percolating interest in publishing and recorded-music rights — and the risks involved too. In her song “Blank Space,” Taylor Swift sings the line, “I’m a nightmare dressed like a daydream” — a fact the new owners of her recordings are learning the hard way as she uses her pulpit to warn the music industry of “potentially harmful” private-equity companies.The object of her scorn: Ithaca Holdings chief executive Scooter Braun, who bought her former label, Big Machine, for $300 million with financing from private-equity companies including The Carlyle Group and other parties.Her criticism of private equity, made Dec. 12, 2019, at Billboard’s Women in Music gala, highlights the sector’s percolating interest in publishing and recorded-music rights, now spurred by a fast-growing music business and low interest rates that are driving record amounts of money to private markets. Key Takeaways:1) Even though creators typically don’t speak up when their record label is acquired and ownership of master recordings change hands, music rights will lose value when the artist or songwriter stands in opposition — especially when it’s a superstar with millions of social media followers. 2) Low interest rates have helped… Read full this story
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