Taylor Swift’s rerecordings of her musical catalog are going viral on TikTok and outperforming the originals on streaming services—meanwhile her label company, Universal Music Group, has tightened up terms with other artists
Prior to Universal’s change, the industry’s standard rerecording restriction said an artist can’t rerecord until five years after the delivery of their last recording under the agreement, or two years from the end of the recording contract’s term, whichever is later.
Some of the other terms Universal has added to its contracts include increases in royalty payments to artists and more transparency into how royalties are calculated, said the person with knowledge of the contracts. Often, Universal’s contract adjustments become industry standard because they are the biggest, lawyers and executives say.
After unsuccessful attempts to buy her old recordings, she proceeded to rerecord her early catalog, and released a new version of her 2008 Grammy-winning album “Fearless” in April. It made its debut at No. 1 on the Billboard 200 albums chart and has been streamed three times as much as the original since its release, according to MRC Data, formerly Nielsen Music.CMO Today delivers the most important news of the day for media and marketing professionals.
“However many fans defected from old ‘Fearless’ to new, there appears to be just as many new listeners to old,” said Nathan Hubbard, former Ticketmaster chief executive officer and co-host of the Ringer’s “Every Single Album: Taylor Swift” series.
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