Taylor Swift's fourth re-recorded album, "1989 (Taylor's Version)," hit stands and streaming platforms last Friday, Swifties worldwide have been celebrating. Not only because it's Swift's fourth successful re-recording, but it's her biggest album to date.
Swift started re-recording her albums in 2021 with "Fearless (Taylor's Version)." Since then, her re-recorded albums are instant success, sending everyone into a nostalgic daze with new and improved vocals from a more vocally mature Swift.
However, the success that came with the release of re-recorded albums also came with more complexities in the legal aspect of artist management and deal negotiation.
Now, Billboard reports that major music labels are overhauling their contracts for new signees.
Music Labels Are Overhauling New Contracts' Re-Recording Clauses
Since Taylor Swift re-releases the original albums into new ones - decked with new album art and Vinyl variants - she also drives the listenership, consumption, and usage from the original tracks to the new ones. This meant that the labels would lose the power to profit from those tracks.
Billboard says that three major labels - Universal Music Group, Warner Music Group, and Sony Music Entertainment have revised their contracts for new signees.
Record labels now demand artists to wait "an unprecedented 10, 15 or even 30 years to re-record releases after departing their record companies."
Simply put, if an artist signs today in 2024, they might have to wait until 2033, 2038, or 2053, before they can re-record their songs, depending on the contract.
"The first time I saw it, I tried to get rid of it entirely. I was just like, 'What is this? This is strange. Why would we agree to further restrictions than we've agreed to in the past with the same label?'" Veteran music attorney Josh Karp told the public.
READ ALSO: Taylor Swift Breaks Own Record, '1989 TV' Earns 1 Billion Streams on Spotify 3 Days After Release
Is Taylor Swift To Be Blamed Of This Phenomenon?
Music attorney Gandhar Savur pointed out that Swift going out on public and reclaiming her music has had a huge effect on the industry.
"Labels, of course, are going to want to do whatever they can to address that and to prevent it. But there's only so much they can do. Artist representatives are going to push back against that, and a certain standard is ingrained in our industry that is not easy to move away from," Savur said in a statement.
While Taylor Swift's huge business move can be seen by many as an outsmarting move on her part, veteran music lawyer Dina Plolt pointed out that it added a new level of negotiation for them.
As of this writing, the three major record labels have not responded to requests for comments about the matter.
READ ALSO: What Taylor Swift Had to Do to Avoid '1989' Getting Leaked: 'I Have A Lot of Irrational Fears'
