Taylor Swift has signed with Republic Records
As part of her contract, the label must distribute sales of their shares in Spotify with artists.
Taylor Swift is changing labels. After spending the past thirteen years with Big Machine Records, an independent label out of Nashville that's distributed through Universal, Swift announced today that she's signed with Republic Records. The label is home to a number of high wattage artists such as Ariana Grande, Drake, Lil Wayne, James Blake, Florence and the Machine and Post Malone.
Swift shared a note regarding the announcement, elaborating on her decision and the streaming terms of the deal. "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 artist, non-recoupable," she wrote. "They have generously agreed to this, at what they believe will be much better terms and paid out previously by other major labels." Read the entire note below.
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 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. 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, inwhatever 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.