Taylor Swift may feel that she's been burned, but she's far from the only one. The conflict between artists and commerce is an ancient one, and superstars such as Paul McCartney and Prince have felt its sting.
Swift is losing the rights to her first six albums, thanks to a deal announced Sunday by Ithaca Holdings. From 2006's self-titled debut to 2017's"Reputation," Swift was with country-pop record company Big Machine Label Group. That company has been acquired by Ithaca, which is owned by Scooter Braun, a manager and businessman who represents pop stars Justin Bieber, Ariana Grande and Carly Rae Jepsen.The 29-year-old Swift is fuming.
The US Copyright Act of 1976 allows artists to terminate copyright transfers 35 years after a copyright deal was originally inked. Congress included the provision as an artist's"second chance" to regain music rights if they felt that they"made a disadvantageous first deal," according to the NYU Law Review.More than three decades after it was enacted, the law creates a slow drip by which record companies gradually lose rights to their back catalogs.
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