Making Moves: Taylor Swift Signs A New Deal With Universal Music Group
Taylor Swift has officially entered a new phase in her career. Today (November 19), the 28-year-old revealed she signed a new deal with Universal Music Group. The label will handle her releases on a global scale, while their subsidiary Republic Records will manage Swift’s career stateside. The news comes less than a month after the completion of her previous contract with Big Machine, her home since 2006. Posting a photo with the labels’ CEOs on Instagram, the Reputation hitmaker shared the good news. “I’m ecstatic to announce that my musical home will be Republic Records and Universal Music Group,” she wrote in an accompanying letter. “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.”
As part of the new deal, the “Delicate” superstar revealed that she would own master recordings of all of her material moving forward. Additionally, she built in a clause to her contract that should help out fellow artists at her new home. Taylor requested that UMG share any proceeds from the company’s potential sale of Spotify shares with the company’s signed talent. Per a report in USA Today, those shares have an estimated worth of around $850 million. She also took the moment to express her gratitude for Big Machine, in particular the company’s founder, Scott Borchetta. “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.”
The news gets even better. Taylor signed off with a promise of new music. “I’m so excited. I can’t wait to show you what I’m making next,” she wrote. Check out her announcement and read the letter in full below!