No one saw it coming - not Taylor Swift nor anyone else - but a new report reveals her father was reportedly paid handsomely for his daughter's music catalog being acquired by Scooter Braun.
This begs one to wonder, did the "Lavender Haze" singer know nothing of this sale?
In 2019, a considerable transformation occurred in the music industry when the founder of Big Machine Label Group, Scott Borchetta, put up his company for sale.
All of the Grammy award-winning singer's catalog was transferred to Scooter Braun's Ithaca Holdings, who paid an impressive $330 million.
In many transactions, Scott Swift, Taylor's dad, reportedly made an estimated $15.1M from his daughter catalog sale - resulting in a great stir of reactions and new "Taylor's Version" re-records being released.
Music Business Worldwide reported that this was one of those highly profitable deals.
But according to TMZ, verification has been established that one of five investors involved in Big Machine Label Group (BMLG) when founder Scott Borchetta sold it to Scooter was the father of Taylor, who held a 5% stake.
This gave Scott Swift quite a substantial sum, as his daughter alleged that this sale had caused her sadness and that she was blindsided by the entire thing.
In the end, Taylor appears to have made a killing compared to her father's financial gains; her "Eras" tour is selling out night after night.
In December, industry professionals estimated to Forbes that a 52-date concert tour for her could yield $620 million with a possible take-home of roughly $500 million.
After further analysis, it's suggested that the gross earnings could be even higher than initially expected.
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Taylor Swift vs. Big Machine Records
During the fall of 2019, a high-profile quarrel broke out between two significant music figures, manager Scooter Braun and Grammy-winning musician Taylor Swift.
In an explosive statement, the "Anti-Hero" singer denounced Scooter and Scott Borchetta for their oppressive control over her music.
Specifically, the "Lover" hitmaker accused them of barring her from singing her older songs at the 2019 AMAs and not permitting her pre-existing performances to be featured in "Miss Americana." However, Scooter had a different view on the matter.
News broke that Scooter Braun recently sold Taylor Swift's master rights to her first six albums for a whopping $300 million.
An investment fund, having no affiliation with Taylor, acquired them. As a result of the sale, she is in the process of re-recording her music.
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