A new deal fro Spotify is set to put smile on some artist faces. And it’s all thanks to Taylor Swift, negotiation skills.
The talented Grammy winner has continued to be relevant to not only the culture of music, but rights as well. At the moment the megastar signed a new deal which means that she would now be apart of Universal Music Group. Variety reports that Universal Music Group will be the “exclusive worldwide recorded music partner for Swift”. with Republic Records serving as her partner.
With Swift’s new deal in place, all artist apart of Universal will now have realigned selling of Spotify shared owned by the company to provide money to their signed artist. Full details regarding after the multi-year deal has not been provided, however the redistribution of Spotify equity is a big win for artist!!
“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 artists, 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.”