Don Jazzy’s Mavin Records Partners With Universal Music Group—Report
Universal Music Group (UMG), one of the largest music companies in the world, has recently acquired a majority stake in Mavin Records, a prominent Nigerian label.
Founded by the renowned producer and artist, Don Jazzy in 2012, Mavin Records has played a significant role in launching the careers of talented artists such as Rema, Ayra Starr, and Crayon.
While the specific details of the deal remain undisclosed, earlier reports estimated the value of Mavin Records to be between $125 million and $200 million.
With this acquisition, UMG now holds a majority ownership stake in the label, but Mavin Records will continue to operate independently under the leadership of CEO Don Jazzy and COO, Tega Oghenejobo. The primary objective of this partnership is to provide Mavin’s artists with enhanced support and resources to foster their global growth.
Being a part of the internationally acclaimed music group, Mavin Records’ distinct Afrobeats sound has the potential to reach new audiences worldwide. UMG will also contribute to the promotion, A&R, marketing, and other aspects of Mavin Records’ operations.
For UMG, this acquisition signifies a significant strategic move into the rapidly expanding African music market. Nigeria, in particular, has emerged as a vibrant hub for Afrobeats, and artists like Wizkid, Burna Boy, and Davido have achieved remarkable success on an international scale.
Don Jazzy announced the good news to the artistes on his record label and fans by stating:
Dear Mavin Family, I’m thrilled to announce that Mavin Records has partnered with Universal Music Group, marking a new chapter in our journey.
This partnership is a milestone that recognizes our collective talent and hard work, aiming to elevate African music on the global stage. Our collaboration with UMG will bring more music, innovation, and opportunities, allowing us to showcase African talent worldwide.
While we embark on this exciting new path, our core mission and values will remain intact, ensuring that the essence of Mavin and our commitment to pushing musical boundaries continue to thrive.
This step forward is a testament to the dedication of our artists, staff, and, importantly, you, our fans, whose unwavering support has been instrumental in reaching this moment. Together, we look forward to making history, breaking more records, and building a lasting legacy. Thank you for your continued belief in us. Here’s to our bright future together.
