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Are you ready for this? Taylor Swift joins a new label.
The singer "Look what you did for me", 28, announced his "new home" on social media: Republic Records and Universal Music Group.
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Her move comes after her contract with Big Machine Label Group – the label under which Scott Borchetta signed Swift when she was a teenager – has come to an end, according to a statement. Swift's catalog would be worth more than $ 300 million, according to the Financial Times.
Celebrities like Ariana Grande, Blake Lively and Reese Witherspoon – along with her boyfriend Joe Alwyn – liked Swift's Instagram account, in which she explained why she favored other artists to be paid for their streaming music and teased her fans with the promise of new music.
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"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, "said Swift.
Swift plunged into the details of his contract. "It's also incredibly exciting to know that I will own all my master recordings I make from now on. It is very important for me to establish a label that relates to the future of our industry, "she said.
"I feel so motivated by the new opportunities created by the streaming world and the ever-changing landscape of our industry," said Swift. "I am also convinced that streaming has been based on the magic created by artists, writers and producers, and that it continues to thrive."
"There was a condition that meant more to me than any other point of transaction. 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 artists, not recoverable, "said Swift.
Swift has championed this cause in the past. In July 2014, when Swift wrote an editorial for The Wall Street Journal on the future of the music industry, she argued for artists to be paid for their music.
"Music is an art and art is important and rare. Important, rare things are precious. Precious things have to be paid. It's my opinion that music should not be free, "she said.
Swift removed his music from Spotify in November of the same year, WSJ reported. In June 2017, Swift put its music on all streaming services.
"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," wrote Swift in his message on Instagram.
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She ended on a sentimental note while discussing her trip with Borchetta.
"I want to express my sincere thanks to Scott Borchetta for having believed in me, 14 years old, and having guided me through a decade of work that I will always be proud of," he said. she said. "I am extremely grateful to be able to do what I love, especially with the people I have had the chance to work with."
"The best thing I've had the chance to receive, is the dedication, trust and loyalty of the fans who care about the lyrics and melodies that I wrote," concluded Swift. "My main goal is to make you proud. I'm so excited. I can not wait to show you what I will do next. "
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Grainge said in a statement: "Few artists in history tackle the combination of gigantic global successes and Taylor Swift's creative genius. She has so many talents that she can do it all. I have tremendous respect for Taylor, especially for using his hard-earned influence to promote positive change. "
Lipman added: "Taylor has not only captured the imagination of an entire generation, but has also redefined the paradigm of the modern music industry."
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