Universal Music Group will buy Big Machine Records for $ 300 million, but the price includes Taylor Swift’s exclusive music management contract in the future.
Taylor Swift expired her contract with Big Machine Records in November. This is the first and only contract of a female artist’s career with a record label since the beginning of her singing career so far. Signing the contract at age 15, the “snake princess” has been with Big Machine Records for the past 14 years.
Recently, Universal Music Group (UMG) – one of the three largest music companies in the world – has offered to buy Big Machine Records (BMR) – the Taylor Swift management unit for $ 300 million. Of course, this “huge” price offered by UMG on the condition that “Look What You Made Me Do” must continue signing the contract with BMR.
According to Billboard, Taylor Swift met and discussed with many other record labels in the US to find a suitable “roof” in the future. Even Big Machine Records has negotiated with the singer about the re-signing of the old contract but has not reached an agreement. As one of the artists with the most “album” sales in the current US market with more than 32 million copies and a tour revenue of millions of dollars each year, Taylor Swift naturally became a character that any entertainment company wishes to have it.
However, Taylor Swift also offers a hard-to-accept “claim” to Big Machine Records in particular and other record labels in general if she signs a new contract. Specifically, the singer is expressing the desire to monopolize the copyright of all her music products instead of giving it to the management company.
Currently, the percentage of revenue coming from the collection of copyrighted songs by Taylor Swift has accounted for between 25% and 28% of her total revenue. That means Big Machine Records is earning about 75% of its profits from digital music and selling Taylor Swift’s physical album.
“At this point, the Taylor Swift needs is no longer money. She seeks ownership of her works in the name of herself. It is her own gray matter and effort throughout 14 years. past year “- Lawyer representing female singer sharing with media.