Don Jazzy Sells Majority Stake in Mavin Records to Universal Music

A majority stake in Mavin Global (Mavin), a prominent Nigerian music company, has been acquired by Universal Music Group (UMG).

The Mavin Records label was founded in 2012 by Michael Collins Ajereh, better known as Don Jazzy. Mavin has been instrumental in propelling Afrobeats artists to prominence, both domestically and internationally.

UMG has made this strategic move five years after Mavin secured a substantial multi-million dollar investment in 2019 from Kupanda Holdings, a joint venture of Kupanda Capital and TPG Growth, a pan-African investment company. As a result of this latest development, TPG has withdrawn from the business, while Kupanda Capital will remain involved as a strategic adviser.

Mavin’s founder and CEO Don Jazzy, along with COO Tega Oghenejobo, will continue to lead the company under the terms of the agreement.

Regulatory approval is required for the deal to be finalized by the end of Q3 2024.

What they said 

• Don Jazzy 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, also stated: “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.” 

What we know

Ayra Starr, Ladipoe, Johnny Drille, Crayon, Magixx, Bayanni, Boyspyce, DJ Big N, Lifesize Teddy, and Rema are some of the stellar Afrobeats artists featured on Mavin.

“Calm Down,” featuring Selena Gomez, reached No. 3 on the U.S. Billboard Hot 100 chart, marking a breakthrough for Afrobeats.

First African artist-led track to surpass 1 billion Spotify streams, this track has become one of the most significant Afrobeats songs ever.

The track “Rush” by Ayra Starr earned her a Grammy nomination for Best African Music Performance.

Among other records, its music video is the most-viewed video by a female Nigerian artist on YouTube. Mavin continues to make waves in the global music scene, solidifying its position as a driving force behind the success of Afrobeats artists.

Here are some things you need to know

With UMG’s partnership with Mavin, the Nigerian music company will have more opportunities to showcase talent globally and expand its roster.

UMG highlighted two key initiatives as part of its mission: Mavin’s Artist Academy, which trains new talent in music and performance skills and fosters connections within the roster, and an executive leadership program focused on developing the next generation of music industry professionals in Africa.

According to the International Federation of the Phonographic Industry (IFPI), this partnership coincides with the boom in the African music industry.

Africa had the highest growth rate in recorded music consumption in 2022, with Sub-Saharan Africa leading at an impressive 34.7% year-over-year growth rate.