Taylor Swift has signed a new multi-year contract with Universal Music Group with UMG’s Republic Records serving as her label partner in the U.S.
Swift’s first record deal with the Nashville-based Big Machine Records where she signed as one of the label’s flagship artists at age 15 ended less than a month ago.
Swift announced the new deal via social media on Monday (Nov. 19). Her new Republic label mates include Maddie & Tae, the Avett Brothers, Ariana Grande, the Weeknd, Nicki Minaj, Lorde and Drake.
“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 proud of,” Swift wrote on Instagram. “I’m extremely grateful to get to do what I love, especially with the people I’ve been fortunate enough to work with.”
Specific details of Swift’s new deal were not made public. But she will own her own master recordings, and she did reveal she signed with UMG based on the company making any sale of their Spotify shares result in a distribution of money to their artists without any financial payback. That primarily means UMG will not be able to regain subsequent profits from its artists through any sale of Spotify shares, and the artists will continue to collect.
“They have generously agreed to this, at what they believe will be much better terms than paid out previously by other major labels,” Swift explained. “I see this as a sign that we are headed towards positive change for creators – a goal I’m never going to stop trying to help achieve, in whatever ways I can.”
As a Big Machine artist, Swift rose to become one of the most successful female artists of all time. She is the only artist in history with four albums that have sold more than one million copies in their first week of release — 2010’s Speak Now, 2012’s RED, 2014’s 1989 and 2017’s reputation, respectively. She has sold more than 32 million albums in the U.S. alone, according to Billboard.