Taylor Swift Reportedly Planning to Launch Her Own Music Streaming Service
Pop superstar Taylor Swift’s well-documented feud with Spotify saw her pulling her entire back catalogue from the streaming service, but now she is positioning herself to be able to strike back at the music provider where it hurts—by launching her own rival streaming service.
According to TMZ, Swift has filed documents giving her the right to brand a website “featuring non-downloadable multi-media content in the nature of audio recordings.” As TMZ notes, this sounds very much like a traditional streaming service. She plans to call the website “Swifties.”
Of course.
“Music is art, and art is important and rare. Important, rare things are valuable. Valuable things should be paid for. It’s my opinion that music should not be free, and my prediction is that individual artists and their labels will someday decide what an album’s price point is. I hope they don’t underestimate themselves or undervalue their art,” Swift wrote in a Wall Street Journal op-ed.
The rapper-entrepreneur paid $56 million to acquire Tidal in 2015, and pitched it as a high-fidelity platform for artists, by artists. The service was much derided after its celebrity-studded launch during which co-owners Madonna, Rihanna, and Beyoncé appeared, signing a mock Declaration of Independence.
However, Tidal has leveraged its ownership to access significant artist exclusives and carved out a niche. In January it sold a 33 percent stake to Sprint at a $600 million valuation, according to multiple media reports.
Taylor must be hoping her ‘Swifties’ can pull off the same trick.
Source: The Daily Beast
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