12/31/2023 0 Comments Taylor swift red signed![]() ![]() They have generously agreed to this, at what they believe will be much better terms and paid out previously by other major labels. 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 artist, non-recoupable. There was one condition that meant more to me than any other deal point. I feel so motivated by new opportunities created by the streaming world and the ever-changing landscape of our industry… I also feel strongly that streaming was founded on and continues to thrive based on the magic created by artists, writers, and producers. It’s really important to me to see eye to eye with a label regarding the future of our industry. It’s also incredibly exciting to know that I own all of my master recordings that I make from now on. It’s so thrilling to me that they, and the UMG team, will be my label family moving forward. Over the years, Sir Lucian Grainge and Monte Lipman have been such incredible partners. I’m ecstatic to announce that my musical home will be Republic Records and Universal Music Group. She has two more shows left on the tour, both to take place in Tokyo this week. While on tour this year in support of Reputation, each show has grossed upwards of $9 million. In its first week alone, 2017’s Reputation sold 2 million copies worldwide. Swift released six albums with Big Machine and has sold over 32 million album domestically and 40 worldwide. By the end of October, industry sources said the bidding for a potential sale of the whole Big Machine company had risen to well over $300 million, with Universal the only major record company left in the race. Swift’s announcement of a multi-year contract with Universal comes after months of intensifying industry speculation about her future after her contract was up rumors included a direct distribution deal with Spotify as well as various types of deals with all the major labels. She had become the biggest artist on the country-focused label, which also features Rascal Flatts and Reba McEntire. This month marked the first time in 13 years that Swift has been a free agent. Big Machine has ownership of her first six albums, and there is no further details on whether or not that element of the contract had been negotiated following her exit. Swift unveiled two important elements of the new deal: the first of which will be ownership of her masters going forward. “It’s so thrilling to me that they, and the UMG team, will be my label family moving forward.” Terms of the deal were not immediately announced. ![]() “Over the years, Sir Lucian Grainge and Monte Lipman have been such incredible partners,” she wrote, noting that she is still part of Universal Music Group. Swift made the announcement in an Instagram post that featured a photo of her with UMG Chairman/CEO Sir Lucian Grainge and Republic Records co-founder and CEO Monte Lipman at the lead of a set. Swift’s deal with the Nashville-based, Universal Music Group-distributed independent label expired this month. Taylor Swift has announced that she has signed a new record deal with Republic Records and Universal Music Group, her first label change since signing with Big Machine Records at the age of 15. ![]()
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