The African music record label giant, Mavin Records, which houses some of the best artistes in the Afrobeats field, such as Rema, Ayra Star, Magix, Ladipoe, and many others, has signed a groundbreaking partnership deal with Universal Music Group (UMG), one of the biggest music companies in the world.
The feat precedes an announcement from early October last year by Billboard, one of the best music industry news and magazine publishers globally, where it was reported that the Nigerian record label, Mavin Records was seeking investment or a potential full sale. The record label eventually received bids from UMG and other major investors in the music industry.
On February 26, 2024, UMG acquired a majority stake in Mavin Records. According to them, Mavin will continue to operate independently in terms of strategy and future talent development. However, the record label will now benefit from resources provided by UMG to propel their artistes onto the global stage. UMG stated that the deal still remains subject to regulatory approval and is expected to close by the third quarter of the year 2024.
Nigerian music executive and businessman Michael Collins Ajereh, popularly known as Don Jazzy, took to his Instagram page to announce the partnership with UMG, exuding excitement on the partnership.
“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.”
“Mavin’s collaboration with Universal music group (UMG) wil 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,” he added.
Don Jazzy expressed his aspirations for the label through the partnership with hopes of making history.
“Together we look forward to making history, breaking more records and building a lasting legacy.“
Many music executives and artistes in Africa are calling this partnership a significant victory for Afrobeat and African music overall. They believe it will contribute to promoting the Afrobeat genre and showcasing the talents in this region to the Western world and the global music scene.
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Story by: Kwao Gerald | unives.ug.edu.gh
