Legal Experts Say Singers Success Is Down To Good Advice and Savvy Deals

Expert lawyers at law firm Irwin Mitchell Private Wealth say that the success of Taylor Swift, who has been named the top-earning entertainer in the world in Forbes’ annual celebrity 100 list, is down to her taking good advice and making savvy deals.

The global super-star, who made the transition from country to pop music, sold more than 5m units of her 1989 album in the US alone and earned $170m from June 2015 to June 2016, to put her at the top of the publication’s list.

Swift’s new ranking puts her above last year’s highest-paid musician, Katy Perry, who raked in $135m in 2015, according to Forbes.

The singer’s meteoric success this year is a direct result of her 1989 world tour, grossing $200m.

Her overall total was bolstered by promotional deals with Keds, Diet Coke and Apple.

Swift’s 2016 income more than doubles her previous best, after media reported she earned $80m in 2015.

Expert Opinion

If you’re at the beginning of a career as an artist in the entertainment industry, getting good advice and negotiating good deals is key to success and largely what Taylor Swift has to thank for her fortune.

Getting good recording and publishing deals are essential especially when you are starting out and one may be blinded by the desire to break into the music industry.

In Taylor Swift’s case, it’s likely any share of her live income given to external parties, would be kept to an absolute minimum.

By not allowing the majority of her music on many popular streaming services, Taylor’s fans are forced to buy her music rather than stream it, which she will be earning good royalties from, and it also allows her to do a lucrative exclusive deal with only one streaming service.

The music industry is evolving rapidly, technology is changing fast and streaming services and consumer brands are changing the way recording artists make their money.
Aurelia Butler-Ball - Partner