Taylor Swift all set to become a free agent as her contract with Big Machine Label Group draws to a close
The 'Love Story' singer has been a blessing for the label ever since she was signed on at the age of 15, and now it's probably time for her to set out on her own path.
Now that her contract with Big Machine Label Group is almost drawing to a close, Taylor Swift might just turn her attention to being a free agent in less than three month's time. The first year anniversary of her sixth album, 'Reputation', will mark the official expiration of her contract with the label which was established only a year before Swift burst into the music scene back in 2006.
As the contract is supposed to end in November this year, Swift is reportedly in talks with several big labels in order to take control of her originals. The Nashville based company which was founded by Scott Borchetta back in 2005, just a year before it signed the then-teenager Swift, is now trying to negotiate with the 'Speak Now' singer in order to re-sign her for another contract.
Probably the reason that the company is reluctant to let go of the pop star is that she has been one of their biggest celebrity figure whose sales and streaming account for almost 34.6 percent of BMLG's market share.
The number probably soared higher after 'Reputation' went on to sell around two million copies in 2017 alone and generated more than one billion audio streams. Since mentions that Swift's 'Reputation' went on to become the best -selling album in 2017, the singer has been said to be the only artist who has four million-selling weeks with four different albums.
The reports states, "Taylor Swift’s Reputation immediately became 2017’s biggest album seller upon its release in November and ended the year as the No. 3 title in overall consumption. Prior to Swift, Ed Sheeran led many of the year’s charts with his third album, Divide, including mega-hit single 'Shape Of You'.
While 'Reputation' sold more than 1 million copies in its first week, Swift's biggest-selling album in the US remains her 2008’s 'Fearless' which has sold around 7.2 million copies. She is now being advised by several attorneys, who have earlier handled these kinds of issues, to negotiate with the Universal Music Group-distributed record label, BMLG, in order to get back her masters. Music industry lawyer Doug Davis of The Davis Firm appraised Swift's ruling to become a free agent. He said, "There’s no precedent to look to regarding the top-selling artist of the digital era becoming a total free agent. [sic]"
He further added, "Taylor Swift is at an extraordinary point in her career where she can write her own ticket in regards to the commercial terms and deal structure. If she is seeking to break financial records and extend with a major, she could have the biggest artist deal of the century so far. If she wants to be creative and choose an alternative structure for capitalization, she could create her own business model. It’s very exciting.” While the 28-year-old has been responsible enough over the past few years in bringing in marketing and branding to the company, Scott himself is known to have thought about selling his company almost three years ago when it has an estimated value of $200-$250 million.