Taylor Swift has signed a new record deal with Universal Music Group.
The 28-year-old singer-songwriter is taking a new direction announcing that she has found a new musical home.
Swift took to social media to announce the big news sharing a photo of herself with Universal Music Group Chairman and CEO Lucian Grainge and Republic Records CEO Monte Lipman on Instagram Monday. “My new home,” she captioned the image, along with some music emojis.
Swift worked with Big Machine ever since she was discovered at age 14. In the post, Swift also thanked Scott Borchetta, Big Machine’s founder who discovered her way back when.
“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.”
Her post also included an explanation about her decision to move labels.
“I’m ecstatic to announce that my musical home will be Republic Records and Universal Music Group. Over the years, Sir Lucian Grainge and Monte Lipman have been such incredible partners. It’s so thrilling to me that they, and the UMG team, will be my label family moving forward. It’s also incredibly exciting to know that I’ll own all of my master recordings that I make from now on.”
“It’s really important to me to see eye to eye with a label regarding the future of our industry,” she continued. “I feel motivated by new opportunities created by the streaming world and the ever changing landscape of our industry… I also feel strongly that streaming was founded and continues to thrive based on the magic created by artists, writers and producers.”
“As part of my new contract with Universal Music Group, I asked that any sale of their Spotify shares result in a distribution of money to their artists, non-recoupable. They have generously agreed to this, at what they believe will be much better terms than paid out previously by other major labels. I see this as a sign we are headed toward positive change for creators — a goal I’m never going to stop trying to help achieve, in whatever ways I can.”
Swift is a hugely successful artist, having won 10 Grammy Awards and 23 American Music Awards. She has sold over 40 million albums worldwide.
Check out Swift’s post below.