Taylor Swift ditches record label after 12 years for major label Universal

Taylor Swift has finally signed to a major record label after 12 years. Photo / AP

Pop superstar Taylor Swift chose Universal Music for her hotly sought-after new multi year contract, making the record group the exclusive worldwide partner of one of the planet's biggest artists.

Financial terms of the agreement weren't included in a statement Monday.

But Variety reported the record company will share with artists proceeds from its expected sale of equity in Spotify Technology, the popular music streaming service, citing a person with knowledge of the matter.

"It's really important to me to see eye to eye with a label regarding the future of our industry," Swift said on Instagram. "I feel so motivated by new opportunities created by the streaming world and the ever changing landscape of our industry."

The accord deepens the music group's ties to Swift, a 10-time Grammy winner, by replacing her current label, Big Machine Records which has represented the 28-year-old for 12 years and saw her release six studio albums.

The company's Republic Records will be her label in the U.S., according to the statement.

Swift said she will own all of the master recordings she makes under the agreement.