We’re not in Nashville anymore. Taylor Swift has formally left her Music Row roots behind, asserting that she’s departed Big Machine Records (her label since 2006) for Universal Music Group’s Republic Records. Swift’s contract along with her outdated label (itself a UMG imprint) expired this month, making her a free agent in the marketplace for multi-multi-multi-millions. It’s not identified how a lot Swift truly raked in in the long run, however she is going to now personal her personal masters going ahead underneath the multi-year, multi-album settlement. But the important thing a part of her new deal has much less to do with Swift herself however the business writ giant. One stipulation of Swift’s contract states that if UMG sells any of its shares in Spotify, which went public in April, that cash have to be redistributed to the label’s artists and may’t be recouped; Swift says UMG “generously agreed” to these phrases.
She reportedly prioritized that side of the deal as an alternative of negotiating for possession of her outdated masters or an even bigger money advance. In the previous, Swift eliminated her music from Spotify over the service’s unfair compensation to songwriters. She additionally famously blacklisted Apple Music when it launched, writing a strongly worded open letter to the corporate over its failure to pay artists and songwriters through the trial interval. Swift has since blessed each companies along with her music after they met her on her phrases. Because always remember: This is Taylor’s music world, everybody else is simply residing in it.