Big moves are what Taylor Swift stands for now when it comes to matters of her career. The multiple award-winning artist has inked a new deal with world famous record label, Universal Music Group. The agreement will make UMG the exclusive worldwide recorded music partner for Swift, with its Republic Records division serving as her U.S label.
Parting ways with Big Machine, her long-time recording house and place of discovery at the age 14 by label founder Scott Borchetta, Tyalor shared in an Instagram post expressing how thankful she is to Borchetta. She wrote, “I want to express my heartfelt thanks to Scott Borchetta for believing in me as a 14-year-old and for guiding me through over a decade of work that I will always be proud of.”
On the other side of the post, Taylor ushered herself into her ‘new home’, she disclosed, “I’m ecstatic to announce that my musical home will be Republic Records and Universal Music Group. Over the years, Sir Lucian Grainge and Mont Lipman have been such incredible partners. It’s so thrilling to me that they, and the UMG team, will be my label family moving forward.”
The newly signed Taylor deal will not only be of benefit to her, as she will now own the master recordings of all the music she makes under the auspices of the label, but then also all other UMG artists will benefit financially from the label’s work with Spotify. “As part of my new contract with Universal Music Group, I asked that any sale of their Spotify shares result in a distribution of money to their artists, non-recoupable. They have generously agreed to this, at what they believe will be much better terms than paid out previously by other major labels. I see this as a sign we are headed toward positive change for creators – a goal I’m never going to stop trying to help achieve, in whatever ways I can,” shared Taylor.