After being with Big Machine Records for 14 years, Taylor Swift signed a new contract with music label Universal Music Group.
Not only is Taytay starting off fresh in her new music label, but her new contract also comes with stipulations which shows Taylor’s sincerity and kindness to current and future artists. On Monday, the 28-year-old singer posted a photo of her with Universal Music Group Chairman and CEO Sir Lucian Grainge, and Republic Records co-founder and CEO Monte Lipman, confirming the news with the caption, “my new home.”
Taylor stated that she was ‘ecstatic’ to announce her news and that she was feeling “motivated” using new opportunities created by the streaming world. Along with this, Taylor also mentioned the one condition that comes with her new contract.
Signing with UMG, Taylor asked for one condition: that any sale of their Spotify shares results in a distribution of money to the label’s artists, non-recoupable.
“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,” Swift explained on Tumblr. “They have generously agreed to this, at what they believe will be much better terms than paid out previously by other major labels. I see this as a sign that we are heading toward positive change for creators — a goal I’m never going to stop trying to help achieve, in whatever ways I can.”
Apart from that, the American singer and songwriter will now own all of her new master recordings. Nonetheless, Taylor expressed her gratitude to BMLG founder, Scott Borchetta, who ‘believed in the talent and music of the once 14-year-old Taylor Swift.’
After being criticized and vilified by the general public, Taylor lay low in social media and focused on touring for her Reputation album instead. She continues to give back to other artists in gratitude for their endless love and support for the past years. Recently, she has also taken the public by surprise by finally speaking up about politics with her strong call to register before the midterm elections.
Now, Taylor is using her fame and influence to provide a positive change and future for the music industry.
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