With Afrobeats continuing to explode, Universal Music Group is investing in sounds from the motherland in a seismic way.
For, the industry juggernaut has acquired a majority stake in Nigeria-based label, Mavin Records.
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Founded by Don Jazzy, the imprint launched the careers of acts such as Tiwa Savage and more recently has catapulted the likes of Rema and Ayra Starr to global heights.
UMG clearly sees the undeniable value, because it’s bought into Mavin, which it deems “the driving force behind many of the continent’s Afrobeats artists.”
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. While for UMG, the partnership provides an opportunity to increase its presence in Afrobeats and greater exposure to the fast-growing African market.
Per UMG, Mavin will maintain autonomy over its strategy and future talent development.
Speaking on the deal, Don Jazzy (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.”
Mavin’s COO 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, concluded:
“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.”
The deal is reportedly set to be finalized by the end of Q3 2024.