Universal Music Group Acquires Controlling Interest in Afrobeat Record Label Mavin


Universal Music Group (UMG) has acquired a majority stake in Mavin Global (Mavin), a music company based in Lagos, Nigeria, describing it as a key player in the Afrobeats genre. Founded in 2012 by Michael Collins Ajereh (Don Jazzy), Mavin has been instrumental in propelling Afrobeats artists to success within Africa and internationally.

This announcement comes approximately five years after Mavin secured a substantial investment from Kupanda Holdings in 2019. TPG Growth, previously part of the joint venture, has fully exited the business, while Kupanda Capital will remain a minority investor and strategic adviser.

UMG emphasizes that Mavin will retain autonomy over its strategic decisions and talent development. Don Jazzy and COO Tega Oghenejobo will continue to lead the company as part of the agreement. The completion of the deal is contingent on regulatory approval and is anticipated to conclude by the end of Q3 2024.

Mavin is home to a roster of notable Afrobeats artists, including Ayra Starr, Ladipoe, Johnny Drille, Crayon, Magixx, Bayanni, Boyspyce, DJ Big N, Lifesize Teddy, and Rema. Rema's hit single "Calm Down" featuring Selena Gomez reached No. 3 on the U.S. Billboard Hot 100 chart, making it one of the biggest Afrobeats songs of all time with over 1 billion Spotify streams.

The partnership aims to enhance Mavin's operations in Nigeria through UMG's global network, amplifying its reach and providing more opportunities for its artists. Mavin, currently distributed internationally by Virgin Music Group, is already integrated into UMG's network, with collaborations on U.S. labels such as Republic and Interscope.

UMG envisions the collaboration accelerating Mavin's strategic growth, expanding its roster's reach globally, and transforming the company into a super-serving, pan-African entertainment entity. Anchored in initiatives like Mavin's Artist Academy and executive leadership program, the partnership seeks to cultivate talent and foster the development of the music industry in Africa.

In 2022, Africa experienced the fastest-growing recorded music consumption, with Sub-Saharan Africa growing at 34.7% YoY, according to the IFPI. Mavin's founder, Michael Ajereh, expressed pride in the brand's achievements, and with this partnership, they aim to continue their mission in Africa and globally. Tega Oghenejobo sees UMG as the ideal partner to propel Mavin's growth, emphasizing a commitment to elevating African music on the global stage.

Sir Lucian Grainge, Chairman & CEO of Universal Music Group, commended Mavin's impact on the global Afrobeats phenomenon, expressing excitement about welcoming them into the UMG family. He highlighted the alignment of values, emphasizing great artists, entrepreneurs, and people as the criteria for identifying ideal partners.


We are an online news and entertainment portal in and around the world. NewsDiet-24, is aimed to bring accurate news across the globe to our huge readers around the world.

Post a Comment

Previous Post Next Post