Taylor Swift's Win: UMG Pays Artists from Spotify Sale

0:00It's April 30th. This is Entertainment and Celebrity News, today pop culture powered by AI. Taylor Slyss push for better artist deals is paying off big time. Back in 2018, she signed with Universal Music Group under Republic Records and locked in a key clause if they ever sold their Spotify. Shares, the money had to go straight to artists, no strings attached. She made it non-negotiable after leaving big machine records, posting about it online to highlight how UMG agreed to fair terms than other labels had offered before. Artists are buzzing because this means real cash in their pockets, a win after years of swift advocating for fair pay in the streaming game. Now, UMG's first quarter earnings report from April 20th, 26, shows their selling half their Spotify stake, using proceeds for a share, buy back while sharing the rest with artists for those contracts. UMG's CFO, Matt Ellis, called it a smart move to boost shareholder value without losing flexibility and is setting a strong example for how labels should handle these windfalls

1:03moving forward.