How Taylor Swift's New Record Deal Will Help Thousands Of Other Musicians
The singer has signed a contract with Republic Records and Universal Music Group.
Taylor Swift has signed a brand new record deal that will help other artists receive a higher payout for their success on streaming platforms.
The singer has officially parted ways with independent country label, Big Machine, who she signed to at just 14-years-old. From now on, any upcoming music will be released through Republic Records and Universal Music Group (UMG).
As part of her terms for the deal, the 28-year-old specified that she will own all her master recordings going forwards and that other artists signed to the label will be repaid any money they make from Spotify streams.
In a statement, she said: “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. They have generously agreed to this, at what they believe will be much better terms than paid out previously by other major labels.
She added: "I see this as a sign that we are headed towards positive change for creators - a goal I'm never going to stop trying to help achieve."
Back in 2014, Taylor decided to withhold album 1989 from Spotify over her dissatisfaction regarding the amount of money it pays artists. At the time, she argued that music "should not be free" and encouraged musicians to stop "undervaluing" their own work.
In 2015, she challenged Apple Music over its decision to not pay musicians for royalties during the three-month trial subscription it offers users, with the streaming service famously reversing its policy just a day later.