Universal Music Group acquires major stake in Afrobeats label Mavin Global
Universal Music Group (UMG), a global music powerhouse, has revealed its acquisition of a majority stake in Mavin Global, a prominent Nigerian record label based in Lagos. The announcement was made on Monday, and the deal is currently pending regulatory approval, expected to close by the end of Q3 2024.
Mavin Global, founded by the renowned artist and entrepreneur Michael Collins Ajereh, popularly known as Don Jazzy, has played a pivotal role in the success of Afrobeat artists across Africa and internationally.
Established in 2012, Mavin has swiftly grown into an award-winning label, contributing significantly to the global prominence of Afrobeats music. The label is credited with discovering and promoting talents like Ayra Starr and Rema, who have achieved global success in the Afrobeats genre.
Don Jazzy expressed pride in the achievements of Mavin, stating, “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.”
The collaboration with UMG is expected to enhance Mavin’s global presence by leveraging UMG’s extensive network of labels and businesses. Under the agreement, Don Jazzy and COO Tega Oghenejobo will retain their leadership roles at Mavin, ensuring the label maintains its autonomy and strategic direction.
The partnership aims to support talent development, expand Mavin’s artist roster, and advance its mission to become a pan-African entertainment powerhouse.
Sir Lucian Grainge, UMG Chairman & CEO, expressed excitement about the collaboration, recognizing Mavin’s track record of success and innovation. The investment reflects UMG’s commitment to supporting diverse music entrepreneurs and artists globally.
This collaboration signifies a new chapter in the evolution of Afrobeats music, promising to elevate African talent on the global stage and drive continued growth in the music industry.
