Taylor Swift is back in the studio to re-record her first six albums. Reuters
Taylor Swift is back in the studio to re-record her first six albums. Reuters
Taylor Swift is back in the studio to re-record her first six albums. Reuters
Taylor Swift is back in the studio to re-record her first six albums. Reuters

A new spin: will Taylor Swift's move to re-record old albums pay off?


Saeed Saeed
  • English
  • Arabic

One word you cannot use to describe Taylor Swift is monotonous.

During her 15-year career as a singer-songwriter, she's dabbled in everything from country music and EDM to pop and even hip-hop.

So what can we make of her new single, a re-recording (dubbed "Taylor's version") of 2010's Love Story?

Minor tweaks aside, like the languid production and Swift's huskier voice (the nasally twang of the original belied her 18 years of age at the time), the song is pretty much a replica of the original.

Then again, that’s the point.

Love Story (Taylor's Version) is the opening shot aimed at former label Big Machine Label Group and music executive Scooter Braun for selling her masters – the official sound recording upon which future editions stem from – to investment fund Shamrock Holdings without offering Swift the option of buying them back.

Now on the war path, Swift pledged to re-record her first six albums, all released under Big Machine Label Group, with the aim of owning the new set of masters.

To sweeten the deal for fans, many of whom are emotionally attached to the original tracks, Swift aims to release the re-recorded albums with extras.

When Fearless (Taylor's Version) arrives on Friday, April 9, it comes as a 26-song package, comprising 13 album tracks and 13 pieces of unreleased material including six new songs.

The end goal, Swift hopes, is that the new versions dominate the original albums in terms of physical sales, streaming numbers and licensing deals, thus diminishing Shamrock Holdings's investment in her work.

While has Swift reignited a much-needed conversation about music ownership, re-recording music is not a novel idea.

Pop music acts have released new takes of old hits as far back as the 1960s for reasons ranging from commercial to creative.

The Everly Brothers and Frank Sinatra doing it their way

US duo The Everly Brothers are regarded as pioneers of pop music re-recordings.

In 1960 and at the peak of their fame, the duo left mid-tier label Cadence Records for giants Warner Bros in an eye-watering $1 million deal.

Not long after, the group released a compilation of re-recorded greatest hits.

As a result, Cadence Records, owners of the original Everly Brothers masters, were denied income from the release. The new compilation was a hit for Warner Bros, lucrative for the group and hastened the financial demise of Cadence Records, which closed down in 1964.

Admiring the move, perhaps, as much for its ruthlessness as financial sense, was Frank Sinatra. That year, Ol' Blue Eyes launched his self-owned label Reprise Records and released re-recorded hits as part of the new arrangement.

However, with the record business maturing, labels increasingly became wise to such shenanigans. From the mid-1960s, recording contracts came with clauses that restrict the period in which an artist can re-record tracks. To this day, this remains the industry standard of up to five years.

Def Leppard’s ‘forgeries’

This was not so much a truce but a pause in hostilities between artists and corporations, as the music industry adjusted to digital streaming.

A group unhappy with how things were playing out was Def Leppard.

At loggerheads with label Universal when it came to digital royalty rates, the British rockers denied the company – as per the terms of their contract – the right to release their catalogue on streaming platforms.

Then, in an brazen act, the group re-recorded almost identical versions of old hits exclusively for digital distribution, thus cutting out the label and guaranteeing Def Leppard up to a reported 70 per cent from all streams.

What gave the move such notoriety was the unabashed glee Def Leppard took in sticking it to Universal – they cheekily dubbed the online versions “forgeries".

Having another go

However, not every new version is fuelled by bitter contract disputes.

For Beach Boy Brian Wilson, it was a case of unfinished business. His 2004 late-career masterpiece Smile was made up of new recordings of songs intended for an abandoned 1967 album.

In 2008, US rock group Journey decided the best way to showcase their new lead singer, Filipino Arnel Pineda, was through releasing the compilation Revelation, a re-recording of 11 hits.

Meanwhile, 2011's Director's Cut found British singer Kate Bush attempting to right sonic wrongs of the past with a collection of modern reworkings of older tracks.

With such a colourful history, it's hard to know if Swift’s gamble to re-record previous albums will pay off. Similar moves by stars prior were done on a smaller scale and with relatively less rancour.

Either way, the flood of material she intends to release will continue the ongoing music debate of whether newer means better.

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Mercer, the investment consulting arm of US services company Marsh & McLennan, expects its wealth division to at least double its assets under management (AUM) in the Middle East as wealth in the region continues to grow despite economic headwinds, a company official said.

Mercer Wealth, which globally has $160 billion in AUM, plans to boost its AUM in the region to $2-$3bn in the next 2-3 years from the present $1bn, said Yasir AbuShaban, a Dubai-based principal with Mercer Wealth.

Within the next two to three years, we are looking at reaching $2 to $3 billion as a conservative estimate and we do see an opportunity to do so,” said Mr AbuShaban.

Mercer does not directly make investments, but allocates clients’ money they have discretion to, to professional asset managers. They also provide advice to clients.

“We have buying power. We can negotiate on their (client’s) behalf with asset managers to provide them lower fees than they otherwise would have to get on their own,” he added.

Mercer Wealth’s clients include sovereign wealth funds, family offices, and insurance companies among others.

From its office in Dubai, Mercer also looks after Africa, India and Turkey, where they also see opportunity for growth.

Wealth creation in Middle East and Africa (MEA) grew 8.5 per cent to $8.1 trillion last year from $7.5tn in 2015, higher than last year’s global average of 6 per cent and the second-highest growth in a region after Asia-Pacific which grew 9.9 per cent, according to consultancy Boston Consulting Group (BCG). In the region, where wealth grew just 1.9 per cent in 2015 compared with 2014, a pickup in oil prices has helped in wealth generation.

BCG is forecasting MEA wealth will rise to $12tn by 2021, growing at an annual average of 8 per cent.

Drivers of wealth generation in the region will be split evenly between new wealth creation and growth of performance of existing assets, according to BCG.

Another general trend in the region is clients’ looking for a comprehensive approach to investing, according to Mr AbuShaban.

“Institutional investors or some of the families are seeing a slowdown in the available capital they have to invest and in that sense they are looking at optimizing the way they manage their portfolios and making sure they are not investing haphazardly and different parts of their investment are working together,” said Mr AbuShaban.

Some clients also have a higher appetite for risk, given the low interest-rate environment that does not provide enough yield for some institutional investors. These clients are keen to invest in illiquid assets, such as private equity and infrastructure.

“What we have seen is a desire for higher returns in what has been a low-return environment specifically in various fixed income or bonds,” he said.

“In this environment, we have seen a de facto increase in the risk that clients are taking in things like illiquid investments, private equity investments, infrastructure and private debt, those kind of investments were higher illiquidity results in incrementally higher returns.”

The Abu Dhabi Investment Authority, one of the largest sovereign wealth funds, said in its 2016 report that has gradually increased its exposure in direct private equity and private credit transactions, mainly in Asian markets and especially in China and India. The authority’s private equity department focused on structured equities owing to “their defensive characteristics.”

BUNDESLIGA FIXTURES

Saturday, May 16 (kick-offs UAE time)

Borussia Dortmund v Schalke (4.30pm) 
RB Leipzig v Freiburg (4.30pm) 
Hoffenheim v Hertha Berlin (4.30pm) 
Fortuna Dusseldorf v Paderborn  (4.30pm) 
Augsburg v Wolfsburg (4.30pm) 
Eintracht Frankfurt v Borussia Monchengladbach (7.30pm)

Sunday, May 17

Cologne v Mainz (4.30pm),
Union Berlin v Bayern Munich (7pm)

Monday, May 18

Werder Bremen v Bayer Leverkusen (9.30pm)

Other acts on the Jazz Garden bill

Sharrie Williams
The American singer is hugely respected in blues circles due to her passionate vocals and songwriting. Born and raised in Michigan, Williams began recording and touring as a teenage gospel singer. Her career took off with the blues band The Wiseguys. Such was the acclaim of their live shows that they toured throughout Europe and in Africa. As a solo artist, Williams has also collaborated with the likes of the late Dizzy Gillespie, Van Morrison and Mavis Staples.
Lin Rountree
An accomplished smooth jazz artist who blends his chilled approach with R‘n’B. Trained at the Duke Ellington School of the Arts in Washington, DC, Rountree formed his own band in 2004. He has also recorded with the likes of Kem, Dwele and Conya Doss. He comes to Dubai on the back of his new single Pass The Groove, from his forthcoming 2018 album Stronger Still, which may follow his five previous solo albums in cracking the top 10 of the US jazz charts.
Anita Williams
Dubai-based singer Anita Williams will open the night with a set of covers and swing, jazz and blues standards that made her an in-demand singer across the emirate. The Irish singer has been performing in Dubai since 2008 at venues such as MusicHall and Voda Bar. Her Jazz Garden appearance is career highlight as she will use the event to perform the original song Big Blue Eyes, the single from her debut solo album, due for release soon.

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Key fixtures from January 5-7

Watford v Bristol City

Liverpool v Everton

Brighton v Crystal Palace

Bournemouth v AFC Fylde or Wigan

Coventry v Stoke City

Nottingham Forest v Arsenal

Manchester United v Derby

Forest Green or Exeter v West Brom

Tottenham v AFC Wimbledon

Fleetwood or Hereford v Leicester City

Manchester City v Burnley

Shrewsbury v West Ham United

Wolves v Swansea City

Newcastle United v Luton Town

Fulham v Southampton

Norwich City v Chelsea

Winners

Ballon d’Or (Men’s)
Ousmane Dembélé (Paris Saint-Germain / France)

Ballon d’Or Féminin (Women’s)
Aitana Bonmatí (Barcelona / Spain)

Kopa Trophy (Best player under 21 – Men’s)
Lamine Yamal (Barcelona / Spain)

Best Young Women’s Player
Vicky López (Barcelona / Spain)

Yashin Trophy (Best Goalkeeper – Men’s)
Gianluigi Donnarumma (Paris Saint-Germain and Manchester City / Italy)

Best Women’s Goalkeeper
Hannah Hampton (England / Aston Villa and Chelsea)

Men’s Coach of the Year
Luis Enrique (Paris Saint-Germain)

Women’s Coach of the Year
Sarina Wiegman (England)

The biog

Full name: Aisha Abdulqader Saeed

Age: 34

Emirate: Dubai

Favourite quote: "No one has ever become poor by giving"

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