Taylor Swift's entire music catalog was pulled from Spotify this weekend, and the company was on its knees to try and get her back.
"We hope she'll change her mind and join us in building a new music economy that works for everyone," a blog post on the site read. "We believe fans should be able to listen to music wherever and whenever they want, and that artists have an absolute right to be paid for their work and protected from piracy. That's why we pay nearly 70 percent of our revenue back to the music community."
An anonymous source told Billboard that the pending Big Machine sale is responsible for the decision.
"This came as a complete surprise," the source said. "Big Machine is in the process of selling itself, and that can't be forgotten here. [It is looking to] increase the multiple for the sale of that company. Scott Borchetta is a very old-school thinker. He's wrong."
As previously reported, Borchetta might strike while Swift's popularity is through the roof and sell the company, according to the New York Post.
From our own Ryan Book: "Right now Big Machine, a Nashville-based label, has a rather impressive roster of country music stars — including Tim McGraw and Rascal Flatts. But Borchetta isn't fooling anyone if he says that all the sales potential behind the imprint lies on the biggest-selling musician on the planet: Taylor Swift. Reports indicate that he's shopping the label around to major labels, looking to bring in between $225 [million] and $250 million. Some have already claimed that valuation is way too high, according to Billboard, but Swift's continued sales accomplishments make it seem that she's worth shelling out for."
Meanwhile, Swift will be touring the world from May to October next year. Check out those newly announced dates here.
