Universal Music Group Acquires Majority Stake in Mavin Global
Universal Music Group has purchased a majority stake in Mavin Global, the renowned Nigerian record label established by Don Jazzy, that is home to artists like Rema, Ayra Starr, Crayon, and Ladipoe, among others.
Dear Mavin Family,
We are 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… pic.twitter.com/nzGTvgOGkP
— MAVIN (@MAVINRECORDS) February 26, 2024
The companies announced that the deal is expected to be finalized by the third quarter pending regulatory approval. Under the investment agreement, Don Jazzy, the founder of Mavin in 2012 and current CEO, along with COO Tega Oghenejobo, will retain their roles in running the label.
Mavin had previously forged ties with UMG. Rema’s “Calm Down,” considered one of the most significant Afrobeats tracks to date, achieved a No. 3 spot on the Hot 100 last year. Initially, it was distributed by Virgin Music, and its remix featuring Selena Gomez was licensed to Interscope. On the other hand, Starr has an existing agreement with Republic. Since its release, “Calm Down” has amassed over 1 billion on-demand streams in the U.S. alone, with its global count significantly higher.
The investment aims to fuel Mavin’s global expansion, as stated in a press release, with a dual focus on Mavin’s Artist Academy, which fosters talent development in various musical and performance skills, and its executive leadership team, aimed at nurturing the next generation of African music industry leaders.
In a statement, Oghenejobo expressed confidence in UMG as the ideal partner for Mavin’s future growth, citing their successful track record of collaborations within the UMG family. He highlighted UMG’s reputation as home to some of the world’s leading music entrepreneurs and artists, aligning well with Mavin’s aspirations. The collaboration aims to create a dynamic creative environment that elevates African music to new heights on the global stage.
UMG’s victory in the Mavin auction strengthens its presence in Nigeria’s dynamic Afrobeats scene, covering Afropop, Afro-fusion, and more. With stars like Wizkid and Burna Boy leading the way, and emerging talents like Rema and Ayra Starr, African music is gaining global attention. This momentum led to the Recording Academy introducing a new Grammy category, recently won by Tyla’s “Water.”
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