Taylor Swift has signed a new record deal with Universal Music and it’s her first signing with a major label.
Everything she’s released so far in her career has been on independent country label, Big Machine, who she signed with when she was just 14-years-old.
Now 28, Taylor will release her music across the world through Universal Music Group.
She announced her new deal with a photo of herself with Universal bosses Lucian Grange and Monte Lipman.
Part of her new deal means Taylor will own all of the music she records, which will mean she earns more money from sales and streams of her albums.
She has also persuaded Universal to agree to repay their artists with any money they make from streams on Spotify.
In 2015 she helped persuade Apple Music to change how they pay artists.
“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,” she wrote on Instagram.
“They have generously agreed to this, at what they believe will be much better terms than paid out previously by other major labels.
“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.”
What the deal means for Taylor – and other artists
By Newsbeat music reporter, Steve Holden
In September, Taylor Swift was named the second most powerful woman in music in the BBC’s Woman’s Hour Power List (behind Beyonce).
She was celebrated for being “unafraid to take on big brands and call out injustice” and once again, she seems to have put that at the heart of her negotiations with Universal.
She’s had her grievances with Spotify before, but this deal makes sure her own label pays its artists a better share of its streaming earnings.
Let’s not forget though, as well as looking out for her fellow musicians, this deal benefits her massively too.
Whilst the exact figure of the deal hasn’t been revealed, it’s likely to make her even wealthier than she already is.
It cements her as not only a hugely successful pop star, but an incredibly savvy businesswoman too.
Taylor says she is “ecstatic” with the new deal.
In a statement, Monte Lipman says Taylor has “redefined the paradigm of the modern music industry.”
And Lucian Grange adds: “She can achieve anything.”
Taylor’s most recent album – her last release on Big Machine – was Reputation, which sold 4.5 million copies when it was released in 2017.