Taylor Swift has reportedly signed a massive new deal with record Universal Music Group and Republic Records for all of her future projects.
Swift has been with Big Machine Records — a label that is also distributed by Universal Music Group — for many years, but her contract there ended earlier this month. According to a report by Variety, she signed a brand new deal with Republic Records on Monday, ensuring that her next few releases will come from them.
The terms of the deal are still unclear, though it seems to be a strategic choice by both Swift and UMG itself. The company has distributed some of Swift's most influential music and helped her take home numerous Grammy Awards, and now it appears to be widening that potential even more.
View this post on Instagram
Swift posted about the label change on Instagram on Monday morning. She put up an album of photos, including one photo of herself with CEO and Chairman of Universal Music Group Sir Lucian Grainge, and the founder and CEO of Republic Records Monte Lipman. She also added a long letter to her fans explaining what the label change means.
"I'm ecstatic to announce that my musical home will be Republic Records and Universal Music Group," she wrote. “Over the years, Sir Lucian Grainge and Monte 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. It’s also incredibly exciting to know that I own all of my master recordings that I make from now on."
"It’s really important to me to see eye to eye with a label regarding the future of our industry," Swift continued. "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."
Swift had a famously contentious relationship with music streaming service Spotify until recently, but she explained that her new label will allow her to work more closely with the company without sacrificing her belief in artists' rights.
“There was one condition that meant more to me than any other deal point," she revealed. "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 and paid out previously by other major labels."
"I see this is a sign that 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," Swift wrote.
Of course, Swift included some parting words for Big Machine Records and its founder, Scott Borchetta. The company has released all of her records since her self-titled debut in 2006.
“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 so proud of," she wrote. "I’m extremely grateful to get to do what I love, especially with the people I’ve been fortunate enough to work with. The best thing I’ve been lucky enough to receive is the dedication, trust, and loyalty of the fans who have cared about the words and melodies I’ve written."
"My biggest goal moving forward is to make you proud," she concluded. "I’m so excited. I can’t wait to show you what I’m making next.”