[ad_1]
Taylor Swift announced that she had signed a new recording contract with Republic Records and Universal Music Group, her first label change since her signing with Big Machine Records at the age of 15. Swift has signed a contract with independent independent band Universal Music Group based in Nashville the label has expired this month.
Swift made this announcement in an Instagram post on which she was presenting a photo with Sir Lucian Grainge, President and CEO of UMG, and Monte Lipman, co-founder and president of Republic Records, head of the company. ;a set. "Over the years, Sir Lucian Grainge and Monte Lipman have been incredible partners," she wrote, noting that she was still part of the Universal Music group. "It's so exciting for me that they and the UMG team will make my label family the future." The terms of the deal were not immediately announced.
Swift unveiled two important elements of the new contract: the first will be the future property of its masters. Big Machine owns its first six albums and there is no more detail as to whether this element of the contract was negotiated after its release.
She also disclosed that as part of her contract with UMG, she had asked the company to ensure that any sale of UMG shares in the company's streaming audio Spotify – which was announced earlier in the New York Stock Exchange this year – allows UMG artists to generate equity. . In previous years, Swift had defended the rights of artists and had engaged in a public war with Apple Music about paying artists as soon as this service was launched. "I have asked that any sale of their Spotify shares result in a cash distribution to their artist, not recoverable," she wrote. "They have generously accepted this, that they believe they are much better terms and have been paid for by other major labels before."
She concluded her note by sincerely thanking Scott Borchetta, of Big Machine, who had signed her as a teenager. "I am extremely grateful to be able to do what I love, especially with the people I have had the chance to work with."
This month marked the first time in 13 years that Swift was a free agent. She had become the country's largest label-based artist, which also includes Rascal Flatts and Reba McEntire.
Swift's announcement of a multi-year contract with Universal comes after months of intensifying speculation about its future after the end of its contract. the rumors included a direct distribution contract with Spotify as well as various types of contracts with all major labels. By the end of October, industry sources had said that Big Machine's bid for sale had exceeded $ 300 million, with Universal being the only major record company left in the industry. the race.
Swift has released six albums with Big Machine and has sold more than 32 million albums in the domestic and 40 in the world. For the first week only, 2017 Reputation sold 2 million copies in the world. On tour this year to support Reputation, each show grossed more than $ 9 million. She still has two concerts on tour, both in Tokyo this week.
Read Taylor Swift's full letter below:
I am pleased to announce that my musical focus will be Republic Records and Universal Music Group. Over the years, Sir Lucian Grainge and Monte Lipman have been incredible partners. It's so exciting for me that they and the UMG team will make my label family the future. It's also incredibly exciting to know that I have all my master recordings that I make from now on. It is very important for me to establish a label that relates to the future of our industry. I feel so motivated by the new opportunities created by the world of streaming and the ever-changing landscape of our industry … I am also convinced that streaming has been founded and continues to thrive thanks to the magic created by artists, writers and producers.
There was a condition that meant more to me than any other transaction point. As part of my new contract with Universal Music Group, I have requested that any sale of their Spotify shares result in a cash distribution to their artist, not recoverable. They have generously accepted this, that they believe to be much better terms and paid previously by other major labels. I see this as a sign that we are moving towards positive change for creators – a goal that I will never stop trying to help achieve, in every way possible. I am so happy to have Sir Lucian Grainge as a partner in these efforts.
I want to express my sincere thanks to Scott Borchetta for believing in me, 14 years old, and having guided me through a decade of work that I will always be proud of. I am extremely grateful to be able to do what I love, especially with people I have had the chance to work with. The best thing I've been lucky enough to receive is the dedication, trust and loyalty of the fans who care about the lyrics and melodies that I wrote. My biggest goal is to make you proud. I'm so excited. I can not wait to show you what I will do next.
Love, Taylor
[ad_2]
Source link
