Introduction
Taylor Swift isn’t just a music icon; she’s also on the front lines of changing how stars and fans connect. She’s created a passionate community, taken on big music companies, all while being aligned ethically with what’s called Web 3 – let’s dive in how…
Building a Fan Family
Taylor’s fans, the “Swifties,” aren’t just cheering from the sidelines; they’re part of the conversation. She talks to them straight through social media, not just to share music news but to get their take on things, too. Swift’s approach to engaging with her community directly, without going through traditional media or platforms that might act as intermediaries, also aligns with the Web 3 principle of decentralization. This creates a tight-knit fan club – whereas Web 3 technologies can provide the tools for online communities to decide how they want to govern themselves, how the community is built etc.
Cutting Out the Middleman
Taylor’s bold move to re-record her old songs is a game-changer. It’s her way of taking back control and getting closer to her fans without the music industry’s big players calling the shots. In 2019, Swift spoke out against the acquisition of her master recordings by Scooter Braun’s Ithaca Holdings as part of its deal with Big Machine Records. She emphasized the importance of artists owning their masters to control their work’s usage and financial benefits. It’s similar to what Web 3 wants to do—cutting out the unnecessary middleman and letting creators sell their art to their most hard-core fans. Imagine owning an NFT, that for example gives access to alternative versions of songs, or allows the owner to receive a share of the song’s royalties.
Music for Everyone
Swift’s ethical alignment with Web 3 is underscored by her advocacy for artist rights and fair compensation. Her public battles against inequitable streaming revenues and ownership rights echo the Web 3 emphasis on fair value distribution and transparency. For example in 2014, she removed her entire catalog from Spotify, protesting against its streaming royalties’ distribution model. In the Web 3 world, smart contracts on blockchain platforms could ensure artists receive their due share without the opacity that sometimes shrouds the financial flows of the music industry, or could allow the platforms themselves to be owned by the artists and fans.
Advocating for Fellow Artists
In 2015, Swift wrote an open letter to Apple Music, criticizing their policy not to pay artists during the service’s free three-month trial period. Apple reversed its policy following Swift’s letter, agreeing to pay artists even during the trial. This action reflected a Web 3-type advocacy for transparent and fair compensation models that benefit all stakeholders.
Avoiding scalpers
With tickets to concerts often costing $1000’s of dollars due to scalpers, blockchain-based systems can enforce identity verification and purchase limits at the point of sale. Smart contracts can be programmed to allow only verified users to purchase tickets and limit the number of tickets each user can buy. This reduces the likelihood that scalpers can buy large quantities of tickets for resale at inflated prices.
Challenges to Think About
The music industry is deeply entrenched in its ways, and a single artist, irrespective of their influence, can face significant hurdles in changing the system. Additionally, the Web 3 space is still in its infancy, and its principles, technologies are yet to be tested at scale, especially in creative industries.
Conclusion
Taylor Swift is not just writing anthems for generations but also rewriting the rulebook on how artists and communities interact in the digital age. She’s showing us a peek into a future where music and the internet can be a place where everyone wins, with artists in charge of their own music and fans getting front-row seats to the show.
Thanks for reading,
Oskar