Universal Music Group (UMG), the foremost music company globally, has unveiled its intention to acquire a majority stake in Mavin Global (Mavin), a prominent Nigerian music entity. Pending regulatory clearance, this investment aims to expedite Mavin’s expansion. UMG anticipates finalizing the transaction by the conclusion of Q3 2024.
Established in 2012 by producer and label executive Don Jazzy, Mavin Global is a leading entertainment firm in Africa. Boasting artists such as Rema, Ayra Starr, Johnny Drille, Ladipoe, Crayon, Magixx, Bayanni, Boyspyce, DJ Big N, and Lifesize Teddy, Mavin has amassed over 6 billion streams worldwide for its talent. Under the guidance of CEO Don Jazzy and COO Tega Oghenejobo, the company has not only achieved significant commercial success but has also played a pivotal role in the global ascent of Afrobeats.
UMG stated, “The partnership will expedite Mavin’s strategic progress and create additional avenues to propel talent globally, extend the reach of its existing lineup, and further develop its enterprise into a comprehensive, pan-African entertainment entity.” Sir Lucian Grainge, Chairman and CEO of Universal Music Group, underscored this sentiment, stating, “Our criteria for identifying partners are straightforward: exceptional artists, innovative entrepreneurs, and outstanding individuals. With Don Jazzy, Tega, the Mavin Global team, and their artist roster, we’ve discovered ideal collaborators with whom to evolve collectively.”
“I take immense pride in the artists, careers, and brand we’ve cultivated, which have propelled Mavin to its current stature. Through this landmark alliance with UMG, we will persist in our mission across Africa and worldwide,” remarked Don Jazzy in a statement.
He also shared the announcement on his Instagram page alongside the following caption:
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.
Under the terms of the agreement, Mavin founder and CEO, Don Jazzy, along with COO Tega Oghenejobo, will retain their positions at the company. UMG affirms that Mavin will “maintain autonomy over its strategy and future talent development.”
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