The serial hitmaker, who broke a string of records with her last album – 2014’s 1989 – is back with her new era, Reputation, and it’s first official single.
Look What You Made Me Do was released overnight and sees her blasting a mystery third party for making her play “the role… of the fool”.
She declares: “The world goes on, another day, another drama, drama / But not for me, not for me, all I think about is karma…
“And then the world moves on, but one thing’s for sure / Maybe I got mine, but you’ll all get yours.”
So who is it about?
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The most popular theory among fans – and purely from a quick glance at the lyrics – is Kanye West and Kim Kardashian West.
That also ties in with the images of a snake that Taylor shared as teasers for the song.
Kim infamously branded Taylor a serpent last year when she and Kanye fell out with her over his song Famous.
There were some corners of social media who claimed the whole debacle had “exposed” Taylor and wrecked her impeccable image.
Another logical theory is that the song is about Katy Perry.
Taylor and Katy fell out over backing dancers a few years ago, and the rift escalated with the release of the former’s song Bad Blood.
However, Katy explicitly said earlier this year that she was happy to bury the hatchet – so would Taylor really re-open the wound?
Alternately the song could be about the media, or ex-boyfriend Calvin Harris – who called her out on Twitter in the aftermath of their break-up.
Some have even wondered if the track references Taylor herself; or at least the public perception of her.
This certainly ties-in with the bizarre middle-8 in which she says: “The old Taylor can’t come to the phone right now. Why? She’s dead!”
Reputation, the track’s parent album, is slated for release on November 10.
In the meantime, a sneak peek of its music video is expected to air on Good Morning America later today.
Swift herself is then rumoured to be swinging by the US TV show in the near future – with some whispers pointing to August 31.
Look What You Made Me Do is out now.