Taylor Swift has decided to move on after thirteen years with her initial record label, Big Machine Records. Big Machine is an independent label out of Nashville and they’ve made a tremendous amount of money with Taylor Swift. But she has become too big for the label and like all good things, they must come to an end. Taylor is at the point in her career where she needs to be with a much bigger label and staff that can handle the work load that is Taylor Swift.
To accommodate such a career and work load Taylor announced that she’s signed a new multi-million dollar deal with Republic Records. Republic Records is home to high-profile artists like Ariana Grande, Drake, Lil Wayne, James Blake, Florence and the Machine and Post Malone. The big bosses at Big Machine aren’t too happy about Taylor Swift leaving but in this industry where loyalty is almost non-existent, they should be thankful, that she stayed with them for thirteen years.
Check out Taylor Swift’s full statement below.
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 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. I feel so 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 on and continues to thrive based on the magic created by artists, writers, and producers.
There was one condition that meant more to me than any other deal point. 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 artist, non-recoupable. They have generously agreed to this, at what they believe will be much better terms and paid out previously by other major labels. I see this is a sign that 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. I’m so happy to have Sir Lucian Grainge as a partner in these efforts.
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 so proud of. I’m extremely grateful to get to do what I love, especially with the people I’ve been fortunate enough to work with. 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. My biggest goal moving forward is to make you proud. I’m so excited. I can’t wait to show you what I’m making next.