"You'd think Swift's contract with Big Machine might prevent her from re-recording her old music, but she can legally do so for two reasons, according to Dina LaPolt, an entertainment attorney who represents Steven Tyler, 21 Savage, and several other high-profile artists. Firstly, while Shamrock Capital owns the master rights to Swift's first six albums—or in other words, the sound recordings on those albums—Swift owns the publishing rights. (Because she wrote her own songs, she retains the rights to the lyrics, melodies, and compositions that comprise them, and she doesn't have to ask permission from or pay anyone to use them how she sees fit.) Secondly, the 're-recording restriction' in her contract with Big Machine—a standard part of any record deal, which long prohibited her from recording new versions of the songs she released through the label—has reportedly expired. When Swift releases new versions of her old songs, she'll own both their master rights and their publishing rights, earning every penny they bring in and securing unilateral control over how they're used.
She's almost inevitably going to yield that power to license her music to advertising agencies and film and TV studios, according to Guillermo Page, a former record label executive who's worked for BMG, EMI, Sony, and Universal, and who now teaches in the University of Miami's music business program. To license (or 'synchronize') a song, you need permission from the record company who owns it and the songwriter who wrote it. Swift has always said no to licensing offers on the grounds that they would profit Braun—but now that she's cut him out of the equation, she can strike those deals herself, and take home 100 percent of the profits they reap."
I no speak lawyer, but it sounds like a double win -- her fanbase gets to support her by buying up the new recordings, and she can pretty much license her hefty opus to TV and film as needed / wanted.
It's not often artists get victories likes this. Good for her.
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