Taylor Swift signs global recording contract with UMG
Taylor Swift has said she is “ecstatic” after signing a global recording agreement with Universal Music Group (UMG).
Under the multi-year agreement, UMG will be the exclusive worldwide recorded music partner for the star, and UMG’s Republic Records will serve as her label partner in the US.
The multi-album agreement deepens the relationship between Swift and UMG and builds upon the success she achieved with Big Machine Records – the label whose long-term strategic alliance with Republic Records first brought the singer-songwriter into the UMG fold.
Swift, 28, posted a message on social media announcing the news.
She wrote: “I’m ecstatic to announce that my musical home will be Republic Records and Universal Music Group.
“Over the years, (UMG chairman/CEO) Sir Lucian Grainge and (Republic founder/CEO) 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.
“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 said as part of the UMG contract she asked that any sale of their Spotify shares resulted 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,” she said.
“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.”
Sir Lucian said he had “enormous respect for Taylor, in particular for her use of her hard-earned influence to promote positive change”.
Lipman said he was “beyond thrilled” to create an alliance with Republic Records and Swift.