SWIFT STAYS IN THE UMG FAMILY

Taylor Swift has signed a global recording agreement with Universal Music Group. Republic Records will be her label partner in the U.S.

“Few artists in history approach Taylor Swift's combination of massive global hits and creative brilliance,” Sir Lucian Grainge, Chairman and CEO of Universal Music Group, said. “She is so multi-talented, she can achieve anything. I have such enormous respect for Taylor, in particular for her use of her hard-earned influence to promote positive change."

“Because of her commitment to her fellow artists, not only did she want to partner with a company that understood her creative vision and had the resources and expertise to execute globally on her behalf, she also sought a partner whose approach to artists was aligned with hers. With these shared beliefs, there is so much we can accomplish together, and all of us at UMG are enormously proud to be embarking on the next chapter of her career alongside her.”

Swift will own her master recordings as part of the multi-album agreement, which is effective immediately.

As for Spotify, UMG agreed Swift’s request that any sale of Spotify shares result in a distribution of money to their artist, 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 in a statement. “I see this is a sign that we are headed toward positive change for creators.”

Since she was 15, Swift had been with Big Machine Records, the label whose long-term strategic alliance with Republic Records first brought her into the UMG family. Big Machine will retain the rights to Swift's first six albums.

Monte Lipman, founder and CEO, of Republic Records said, “Taylor has not only captured the imagination of an entire generation, but has also redefined the paradigm of the modern music industry. Her commitment to songwriting and performing has earned her the respect of her peers and millions of adoring fans around the world. I can only imagine what Taylor is capable of achieving in the years to come, both culturally and creatively. I’m beyond thrilled to create an alliance with Republic Records and the incomparable Taylor Swift.”

"As part of my new contract," Swift noted on Instagram, "I asked that any sale of [UMG's] Spotify shares result in a distribution of money to their artists, non-recoupable."

Here is Swift's full statement:

I’m ecstatic to announce that my musical home will be Republic Records and Universal Music Group. 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. 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.

There was one condition that meant more to me than any other deal point. 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. I’m so happy to have Sir Lucian Grainge as a partner in these efforts.

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. 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. I’m so excited. I can’t wait to show you what I’m making next.