Taylor Swift receives a record deal up to 20 million dollars from UMG
Taylor Swift has recently announced that she would leave the record label Big Machine Label Group - her home for nearly 15 years - to join Universal Music Group (UMG). Key terms in the contract between Swift and UMG have not been announced. According to The Guardian, the 28-year-old singer will pocket $ 200 million.
As such, UMG will exclusively distribute Taylor Swift's music products around the world. As for the recordings created by Swift in the future, they will be controlled in terms of distribution and revenue. According to The Guardian, this is an attractive promise that makes Swift determined to join UMG.
Taylor Swift became the highest paid female artist of all time.
Besides, UMG is a record label that has adopted a policy of distributing a cut of proceeds from any sale of its Spotify shares to artists, non-recoupable-meaning that they'd be paid even if they hadn't earned back their latest advance. Prior to UMG, Sony and Warner were two well-known organizations that created fairness for artists.
"I'm ecstatic to announce that my musical home will be Republic Records and Universal Music Group," Swift wrote on Instagram. "Over the years, [UMG chief] Sir Lucian Grainge and [Republic chief] 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."
After joining UMG, Swift will share the same musical home with a number of artists such as Drake, Zendaya, Demi Lovato, Nicki Minaj and especially Ariana Grande, a pop singer who has been selected as Billboard’s 2018 woman of the year.
Swift shares home with Ariana Grande and other famous artists.
With the above treatment, Swift becomes the female singer who receives the most valuable contract in the history of music. In 2016, "British nightingale" Adele signed a $ 130 million contract with Sony record label. Madonna ($ 120 million) and Whitney Houston ($ 100 million) are among the top female artists with the top 10 most valuable deals. The first position in the list of top 10 artists to receive the biggest music contracts of all time is Michael Jackson. In 2010, "King of Pop" signed a $ 250 million deal lasting seven years with Sony Music. Rock band U2 and Swift both ranked in second place with $ 200 million.
By: Christina Baker