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Universal Music Group Acquires Majority Stake In Mavins Records - Music/Radio - Nairaland

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Universal Music Group Acquires Majority Stake In Mavins Records by naptu2(op): 5:31pm On Feb 26, 2024
UNIVERSAL MUSIC GROUP BUYS MAJORITY STAKE IN AFROBEATS LABEL MAVIN

FEBRUARY 26, 2024

Universal Music Group (UMG) has acquired a majority stake in Lagos, Nigeria-based music company Mavin Global (Mavin).

UMG describes Mavin as “the driving force behind many of the continent’s Afrobeats artists”.

Founded in 2012 by artist, producer, music executive and entrepreneur, Michael Collins Ajereh (aka Don Jazzy), Mavin has played a prominent role in breaking Afrobeats artists within Africa, and globally.

Monday’s (February 26) news arrives around five years after Mavin secured a multi-million dollar investment (in 2019) from Kupanda Holdings, a joint venture between pan-Africa investment company Kupanda Capital and TPG Growth.

TPG has now fully exited the business, while Kupanda Capital will a remain minority investor and strategic adviser.


According to UMG, Mavin will “maintain autonomy” over its strategy and future talent development. As part of the agreement, founder and CEO Don Jazzy and COO Tega Oghenejobo will continue leading the company.

The deal remains subject to regulatory approval and is expected to close by the end of Q3 2024.

Mavin is home to a number of top Afrobeats artists including Ayra Starr, Ladipoe, Johnny Drille, Crayon, Magixx, Bayanni, Boyspyce, DJ Big N, Lifesize Teddy and Rema, whose hit single Calm Down [featuring Selena Gomez] rose to No.3 on the U.S. Billboard Hot 100 chart in a breakthrough for the genre.

The track has gone on to be one of the biggest Afrobeats songs of all time, becoming the first African artist-led track to surpass 1 Billion Spotify streams.

Ayra Starr’s track Rush was nominated for the inaugural Best African Music Performance Grammy and its music video is the most viewed music video by a female Nigerian artist on YouTube.

Universal said on Monday that Mavin’s operations in Nigeria will be amplified through UMG’s global network of labels and businesses by the investment.

Currently distributed internationally [ex-Africa] through Virgin Music Group with Rema, UMG noted that Mavin and its roster are already “well integrated” into UMG’s network, with multiple signings across U.S. labels, including Republic partnering for Ayra Starr, and Interscope for Lifesize Teddy.

UMG also said on Monday that the partnership will accelerate Mavin’s strategic advancement and create more opportunities to break more talent globally, expand the reach of its existing roster and continue building its business into “a super-serving, pan-African entertainment company”.

This mission, according to UMG, is anchored in two initiatives: Mavin’s Artist Academy, which trains new talent in music and performance skills and builds connections within the roster, and their executive leadership program, which seeks to develop the next generation of music industry talent in Africa.

In 2022 Africa represented the fastest-growing continent for recorded music consumption, with Sub-Saharan Africa growing at 34.7% YoY, according to the IFPI, the only region to grow more than 30% that year.,

Michael Ajereh said: “ I’m proud of the artists, careers and brand we’ve built that have made Mavin the force it is today. In this historic partnership with UMG, we will continue that mission in Africa and across the globe.”

Tega Oghenejobo added: ” With our proven history of collaborations within the UMG family, we have a strong belief that they are the ideal partner for the next phase of our growth, given the diversity and potential of our business.

“UMG is home to some of the world’s foremost music entrepreneurs and artists, making them a perfect match for our aspirations. By collaborating with UMG, we are dedicated to cultivating a vibrant creative environment that propels African music to new heights on the global stage.”

Sir Lucian Grainge, Chairman & CEO of Universal Music Group, said: “Our criteria for identifying partners is straightforward: great artists, great entrepreneurs, great people. With Don Jazzy, Tega, the Mavin Global team and their artist roster, we’ve found ideal partners with whom to grow together.

“Mavin’s brilliant artists have been catalysts in the transformation of Afrobeats into a global phenomenon and we’re thrilled to welcome them into the Universal Music Group family.”
https://www.musicbusinessworldwide.com/universal-music-group-buys-majority-stake-in-afrobeats-label-mavin/

Re: Universal Music Group Acquires Majority Stake In Mavins Records by phr0nesis(m):
UMG has a roster of the biggest artists in the world. Investing in Nigerian music is big addition to them
Re: Universal Music Group Acquires Majority Stake In Mavins Records by Hasino2258: 5:37pm On Feb 26, 2024
congrats
Re: Universal Music Group Acquires Majority Stake In Mavins Records by fmlala: 5:37pm On Feb 26, 2024
Cool investement
Re: Universal Music Group Acquires Majority Stake In Mavins Records by ArinzeAnthony03: 5:37pm On Feb 26, 2024
Hmmmm
Re: Universal Music Group Acquires Majority Stake In Mavins Records by Mopolchi: 5:38pm On Feb 26, 2024
Good one Don Jazzy
Re: Universal Music Group Acquires Majority Stake In Mavins Records by ATEAMS: 5:38pm On Feb 26, 2024
Just say.... it's sold out ..
Re: Universal Music Group Acquires Majority Stake In Mavins Records by Endymi(m): 5:38pm On Feb 26, 2024
Re: Universal Music Group Acquires Majority Stake In Mavins Records by philsbaba: 5:38pm On Feb 26, 2024
Is it an american label?
Re: Universal Music Group Acquires Majority Stake In Mavins Records by Haydens: 5:38pm On Feb 26, 2024
The rich keep on getting richer.
Re: Universal Music Group Acquires Majority Stake In Mavins Records by Kingosytex(m): 5:38pm On Feb 26, 2024
No be today wey Jazzy blow, leave am; him face too show.
It's Don Jazzy again!
Congrats and more wins to Don Baba J!
Re: Universal Music Group Acquires Majority Stake In Mavins Records by illuminutty: 5:38pm On Feb 26, 2024
Na today
Re: Universal Music Group Acquires Majority Stake In Mavins Records by Nahunger(m): 5:38pm On Feb 26, 2024
grin
Re: Universal Music Group Acquires Majority Stake In Mavins Records by DARLINGTON869(m): 5:38pm On Feb 26, 2024
I think what Don jazzy wants to do is cash out big time. Then later on, he will go ahead an float another record label.
Re: Universal Music Group Acquires Majority Stake In Mavins Records by FeliciaOja(f):
You have to give people from the east their accolades. When it comes to Business
They are the real genius.

I remember when Dbanj left Don jazzy and ran to USA. people said Don jazzy is finished
Mo hits is finished

Don jazzy as a true Igbo business man
Started a fresh with MARVIN
The rest was history

If only dbanj could see the future
He wouldn't have left Don jazzy
Now ordinary Rema get LEVELS on international scene pass Dbanj

My business manager must be from Igbo
They have good business IQ
I cannot come and kii myself in business
Let those who are good in it handle it for me

Congratulations Don Jazzy💥💥❤️❤️
Re: Universal Music Group Acquires Majority Stake In Mavins Records by andy244: 5:38pm On Feb 26, 2024
Congrats Jazy
Re: Universal Music Group Acquires Majority Stake In Mavins Records by Olamila: 5:39pm On Feb 26, 2024
grin
Re: Universal Music Group Acquires Majority Stake In Mavins Records by born2reign001(m): 5:39pm On Feb 26, 2024
Don jazz again
Re: Universal Music Group Acquires Majority Stake In Mavins Records by Nahunger(m):
grin

They should sign me, let me sing Nahunger remix for 2027 election 😀
Re: Universal Music Group Acquires Majority Stake In Mavins Records by Matrix137(m): 5:39pm On Feb 26, 2024
Talent vultures.

Can't forget in a hurry what they did to D'banj
Re: Universal Music Group Acquires Majority Stake In Mavins Records by UnknownT: 5:39pm On Feb 26, 2024
Nice one! Don Jazzy will soon set up another label
Re: Universal Music Group Acquires Majority Stake In Mavins Records by Emmexguy123: 5:39pm On Feb 26, 2024
Don Jazzy is truly a business man.
He knew that after Rema, it will be hard to raise another hit star.
Re: Universal Music Group Acquires Majority Stake In Mavins Records by Benjamin4388(m): 5:40pm On Feb 26, 2024
NEXT LEVEL
Re: Universal Music Group Acquires Majority Stake In Mavins Records by SirLakes: 5:40pm On Feb 26, 2024
This is Tinubu effect on the economy grin

Na why e happen
Re: Universal Music Group Acquires Majority Stake In Mavins Records by BOSSkesh(m): 5:40pm On Feb 26, 2024
Good investment
But hope the whites won't hijack the label or it's talents
Re: Universal Music Group Acquires Majority Stake In Mavins Records by thesicilian: 5:40pm On Feb 26, 2024
DARLINGTON869:
I think what Don jazzy wants to do is cash out big time. Then later on, he will go ahead an float another record label.
That wouldn't make any business sense, when you still have the autonomy to run the technical part of the business the way you deem fit.

👇👇👇
According to UMG, Mavin will “maintain autonomy” over its strategy and future talent development. As part of the agreement, founder and CEO Don Jazzy and COO Tega Oghenejobo will continue leading the company.
Re: Universal Music Group Acquires Majority Stake In Mavins Records by HateBigots: 5:41pm On Feb 26, 2024
grin Don Jazzy don cash out
Re: Universal Music Group Acquires Majority Stake In Mavins Records by Anijay1212(m):
Kudos to the talent academy aka Marvin records.
shocked shocked shocked
Re: Universal Music Group Acquires Majority Stake In Mavins Records by airsaylongcome: 5:42pm On Feb 26, 2024
DARLINGTON869:
I think what Don jazzy wants to do is cash out big time. Then later on, he will go ahead an float another record label.
Universal Music aren't fools. They would have gotten a contract in place that limits him from starting a competitor within a specific time frame
Re: Universal Music Group Acquires Majority Stake In Mavins Records by Irupetepete: 5:42pm On Feb 26, 2024
Jazzy Don hammer 🛠
Re: Universal Music Group Acquires Majority Stake In Mavins Records by CHIOMAEZEH:
That guy wey get stint with Kanye West Good Music go dey regret now ..

https://www.youtube.com/watch?v=FrTS13SotCM
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