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Taylor Swift has signed a worldwide registration agreement with Universal Music Group, the company announced today. Under this multi-year agreement, UMG will be the exclusive exclusive worldwide partner of the recorded music for Swift and its label, Republic Records, will be its partner in the United States.
According to this announcement, the agreement on several albums, which comes into effect immediately, strengthens the relationship between Swift and UMG and builds on the success it has won with Big Machine Records, the label. whose long – term strategic alliance with Republic Records first brought Swift into the UMG. family. Ten-time Grammy Award winner, he was singled out as the youngest recipient of the Grammy Award for the year album – and the first solo artist to win this award twice – is the only one history artist to own four albums with sales exceeding one million copies in their first week of publication ("Speak Now" of 2010, "Red", "2014" of 2014 and "Reputation" of 2017), respectively .
Although the terms of the agreement have not been announced, a source close to the situation indicates Variety One of the key elements of the agreement was to guarantee UMG to share with the artists the proceeds of the expected sale of its Spotify shares next year and make them non-recoverable against the artists' incomes, as was do Sony Music.
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"In the same vein as his Apple letter [in 2015]Taylor Swift negotiated a record deal with a positive historical impact on artists, "the source said. "She knew that she had incredible leverage and could have used it to recover her former masters or just to get the biggest cash advance for herself, but most importantly for her was to negotiate a better deal. about Spotify payments for Universal artists and make them unrecoverable. In 2015, Swift wrote a letter to Apple accusing the company of not paying artist royalties during the free trial period; the next day, the company changed this policy. Further information on Swift's new agreement with Universal was not immediately available, although UMG Chief Executive Officer Lucian Grainge spoke about the company's position on Spotify shares in its statement.
"Few artists in history are apprehending Taylor Swift's combination of global success and creativity," said Grainge. "She has so many talents that she can do anything. I have tremendous respect for Taylor, especially for using his hard-earned influence to promote positive change. Because of her commitment to her fellow artists, she not only wanted to partner with a company that understood her creative vision and had the resources and expertise to execute globally for her, but she was also looking for a partner whose approach to artists was his own. . With these shared beliefs, we can accomplish many things together, and we are all extremely proud of UMG to have the next chapter of his career at his side. "
Monte Lipman, founder and CEO of Republic Records, said: "Taylor has not only captivated the imagination of an entire generation, but has also redefined the paradigm of the modern music industry. His commitment to writing and performing earned him the respect of his peers and millions of fans who love the world. I can only imagine what Taylor is capable of achieving in the years to come, both culturally and creatively. I am delighted to create an alliance with Republic Records and the incomparable Taylor Swift. "
Moments before the announcement came, Swift posted a photo of her with Grainge and Lipman on Instagram.
The pop superstar became the most eligible license of the music industry on November 10, when the first anniversary of the release of "Reputation" released her from her contract with Big Machine Records. Months ago, as indicated by Variety, the industry had attracted the attention of contenders who had the best to get his dance card. Reupping with Big Machine seemed less likely over time and label leader Scott Borchetta showed little interest in giving it ownership of the main recordings of previous albums, which was considered a condition of his presence.
What does it mean for Big Machine? It has been reported that Borchetta has been releasing the company for sale in recent months, with a well-priced starting price in the nine-digit range. The brand group has some of the biggest stars in the country, including Florida Georgia Line and Thomas Rhett – and, of course, the valuable Swift catalog they did not want to give up. Their opportunities to exploit this catalog are limited in areas that also require the approval of the publishing house Swift. The supposed auction of Big Machine offers at least one other big mystery that the company has to speculate on, now that the one about Swift's intentions has been resolved.
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