Taylor Swift is celebrating a new record deal with Universal Music Group and it’s a very big deal for her new label mates.
The music superstar announced the news on Instagram on Monday, highlighting a history-making clause that allows Spotify payments to be non-recoupable for all Universal artists. The singer calls it the “one condition that meant more to me than any other deal point.
“I see this as a sign that we’re heading towards positive change for creators — a goal I am never going to stop trying to help achieve, in whatever ways I can.”
UMG will now serve as her exclusive worldwide label while UMG’s Republic Records will be her U.S. label. Swift was previously under Big Machine Records and distributed internationally by UMG.
“I have such enormous respect for Taylor,” Sir Lucian Grainge, chairman and CEO of Universal Music Group says in the announcement. “In particular for her use of her hard-earned influence to promote positive change. Because of her commitment to her fellow artists, not only did she want to partner with a company that understood her creative vision and had the resources and expertise to execute globally on her behalf, she also sought a partner whose approach to artists was aligned with hers.”
As Republic Records founder and CEO Monte Lipman adds: “Her commitment to songwriting and performing has earned her the respect of her peers and millions of adoring fans around the world. I can only imagine what Taylor is capable of achieving in the years to come, both culturally and creatively. I’m beyond thrilled to create an alliance with Republic Records and the incomparable Taylor Swift.”
Thanking Big Machine record exec Scott Borchetta for “believing in me as a 14-year-old,” Swift writes she’s excited to make her fans “proud” moving forward.
“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,” her Instagram post reads.
The multiple Grammy Award winner’s most recent album, Reputation, was the biggest release of 2017, reaching No. 1 on the iTunes music charts in over 111 countries.
Fans celebrated the news on Twitter: