Swift said the song's re-recording and subsequent release was inspired by its popularity on TikTok, saying on Twitter, "saw you guys got Wildest Dreams trending on TikTok, thought you should have my version."
Swift will be able to collect a larger share of the royalties with the new version of "Wildest Dreams," dubbed "Taylor's version" than with the original version, which is part of a catalog of her past work recorded for the label Big Hit Machine that she's sought unsuccessfully to buy control over.
Swift will also be able to license the re-recorded song for TV, film, and ad use, similar to what she did when she re-recorded "Love Story" for an advertisement for Match produced by actor Ryan Reynolds' new agency."
Wildest Dreams" (Taylor's Version) also beat out the original song's Spotify record for single-day plays, Variety reported, surpassing 2 million plays compared to its original counterpart's 750,000, which had been trending on Spotify earlier this week because of TikTok trends.
While the original version of the song gave producing credits to songwriter Max Martin, who also helped produce Swift's "Shake It Off" and "Blank Space," he was absent from the credits of the re-released song, which lists Swift, Shellback, and Christopher Rowe as producers, according to Billboard.