Taylor Swift said she was blindsided when her music was sold over to Scooter Braun … but a new report says her pops cashed in a huge paycheck on the deal, raising questions as to whether or not Taylor actually knew the sale was gonna happen.
For those unaware, TS’ catalog was shipped off to Scooter in 2019 when Scott Borchetta, founder of Big Machine Label Group, put his company up for sale … Scooter’s Ithaca Holdings paid $330 mil to take it all.
The sale spawned a ton of turmoil, as well as multiple “Taylor’s Version” re-records of some of her past work … but according to Music Business Worldwide, Taylor’s dad Scott Swift took home $15.1M in the monumental sale.
8/25/19
CBS
The outlet confirms he was 1 of the 5 shareholders of BMLG at the time of the sale — owning about 5% of the company when Borchetta unloaded it to Scooter. Quite the payday, especially considering the pain Taylor claimed the sale caused her.
Taylor’s been re-recording all of her old albums ever since her music was sold off … in order to have a version she’d be able to own.
Scooter also unloaded Taylor’s master rights of her first 6 albums to an unknown investment fund for $300M in 2020, and she ripped into Scooter for them not being for sale to her.
For what it’s worth, it seems like Taylor still came out ahead compared to her dad’s payout — she’s been selling out shows left and right on her current Eras Tour.
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