Taylor Swift has inked a new record deal with Universal Music Group.
The “Look What You Made Me Do” singer announced the big news in an Instagram post featuring a photo of herself posing with Universal Music Group Chairman and CEO Lucian Grainge and Republic Records CEO Monte Lipman.
“My new home,” she captioned the image, along with some music emojis.
Swift, 28, has been with Big Machine Records since 2006, and in that time, has easily been the label’s biggest moneymaker. However, less than a month ago, her contract expired and it appears as though UMG, who has handled promotion for Swift for years, won her over.
"I'm ecstatic to announce that my musical home will be Republic Records and Universal Music Group,” she shared. “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.”
Swift also included a shout-out to Scott Borchetta, the founder of Big Machine Records and the man who is credited with discovering her.
“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’m will always be so proud of,” she wrote. “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.”
Grainge also released a statement regarding UMG’s new deal with Swift.
“Few artists in history approach Taylor Swift's combination of massive global hits and creative brilliance,” he wrote, via Billboard. “She is so multi-talented, she can achieve anything. I have such enormous respect for Taylor, 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. With these shared beliefs, there is so much we can accomplish together, and all of us at UMG are enormously proud to be embarking on the next chapter of her career alongside her.”
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