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Taylor Swift announces new record deal with Universal Music

November 19, 2018 7:56 PM
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After more than 12 years, six albums and 10 Grammy Awards as the star of the Nashville-based Big Machine Records, Taylor Swift has a new label.

The singer — who became a free agent this month, a year after the release of her latest album, “Reputation” — announced Monday on Instagram that she had signed a multiyear, multialbum agreement with Universal Music Group and its subsidiary, Republic Records. As part of the deal, Swift, 28, will own her master recordings moving forward, she said.

In photos of a typed note posted to her personal account — a rare, public-facing moment of music business messaging from a star of her stature — Swift added that she had negotiated with digital streaming in mind. The singer said she and Universal agreed that if the company sells any of its equity in Spotify, which went public earlier this year, the money would be distributed to artists.

“It’s really important to me to see eye to eye with a label regarding the future of our industry,” Swift said in her statement. “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.”

Source: thestar.com

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