Taylor Swift signed a global recording agreement with Universal Music Group (UMG). Under the multi-year agreement, UMG will serve as the exclusive worldwide recorded music partner for Swift and UMG’s Republic Records will serve as her label partner in the U.S. Swift was previously signed with Big Machine Records.
In a social media post, Swift noted that she will own all of her recorded masters going forward. “It’s also incredibly exciting to know that I’ll own all of my master recordings that I make from now on. It’s really important for me to see eye to eye with a label regarding the future of our industry,” she said.
Swift noted that as part of the new UMG agreement, any sale of their Spotify shares will result in a distribution of monies to their artists, non-recoupable.
She also shared love and gratitude for Big Machine Records’ Scott Borchetta “for believing in me as a 14-year-old and guiding me through over a decade of work that I will always be so proud of. I’m extremely grateful to get to do what I love, especially with the people that I’ve been fortunate enough to work with.”
The new UMG multi-album agreement, effective immediately, deepens the relationship between Swift and UMG and builds upon the enormous success she achieved with Big Machine Records—the label whose long-term strategic alliance with Republic Records first brought Swift into the UMG family. A 10-time Grammy winner distinguished as the youngest-ever recipient of the Grammy for Album of the Year—and the first female solo artist to win the award twice—is the only artist in history with four albums with sales of more than one million copies in their first week of release (2010’s Speak Now, 2012’s RED, 2014’s 1989 and 2017’s reputation), respectively.
In making the announcement, Sir Lucian Grainge, Chairman and CEO of Universal Music Group, said, “Few artists in history approach Taylor Swift’s combination of massive global hits and creative brilliance. She is so multi-talented, she can achieve anything. I have such enormous respect for Taylor, in particular for her use of her hard-earned influence to promote positive change. Because of her commitment to her fellow artists, not only did she want to partner with a company that understood her creative vision and had the resources and expertise to execute globally on her behalf, she also sought a partner whose approach to artists was aligned with hers. With these shared beliefs, there is so much we can accomplish together, and all of us at UMG are enormously proud to be embarking on the next chapter of her career alongside her.”
Monte Lipman, founder and CEO, of Republic Records said, “Taylor has not only captured the imagination of an entire generation, but has also redefined the paradigm of the modern music industry. Her commitment to songwriting and performing has earned her the respect of her peers and millions of adoring fans around the world. I can only imagine what Taylor is capable of achieving in the years to come, both culturally and creatively. I’m beyond thrilled to create an alliance with Republic Records and the incomparable Taylor Swift.”
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