Universal Music Group (UMG) has made a majority investment in Mavin Global (Mavin), a powerhouse independent record label based in Lagos, Nigeria. This groundbreaking collaboration, pending regulatory approval and slated to conclude by the end of Q3 2024, signifies a pivotal moment in the music industry, particularly within the vibrant realm of Afrobeats.
Late last year, it was reported that Mavin was seeking investments or an outright sale and that significant bids had emerged from industry giants like Universal Music Group (UMG) and HYBE.
Founded in 2012 by the highly acclaimed artist and entrepreneur Michael Collins Ajereh, known as Don Jazzy, Mavin has been a driving force behind the success of Afrobeats artists both within Africa and on the global stage. The label has played a pivotal role in the rapid growth and commercial success of Afrobeats, contributing to the genre’s rise.
Mavin’s impressive roster includes notable artists such as Ayra Starr, Ladipoe, Johnny Drille, Crayon, Magixx, Bayanni, Boy Spyce, DJ Big N, Lifesize Teddy, and global chart-topper Rema. Rema’s “Calm Down” featuring Selena Gomez notably secured the top spot on Billboard’s U.S. Afrobeats Songs Chart in its inaugural week, solidifying Mavin’s global influence. The song also became the first song by an African Artist to Join Spotify’s Billions Club.
UMG’s strategic investment aims to amplify Mavin’s full-service offerings in Nigeria through its expansive global network of labels and businesses. While Mavin is currently distributed internationally (excluding Africa) through Virgin Music Group, the partnership with UMG is expected to strengthen Mavin’s global integration, leveraging UMG’s unparalleled network.
Despite this collaboration, Mavin will retain autonomy over its strategy and talent development. Don Jazzy and COO Tega Oghenejobo will continue to lead the company, offering UMG the opportunity to collaborate with proven local executives and experienced A&R professionals.
The partnership is poised to accelerate Mavin’s strategic advancement, creating more opportunities to break talent globally, expand its roster’s reach, and evolve into a pan-African entertainment powerhouse. Anchored in Mavin’s initiatives like the Artist Academy and executive leadership program, the collaboration aims to nurture new talent and develop the next generation of music industry professionals in Africa.
The investment provides UMG a unique opportunity to increase its presence in the Afrobeats genre and gain greater exposure to the fast-growing African market. Africa, with its young demographics and increasing connectivity, represented the fastest-growing continent for recorded music consumption in 2022, according to the IFPI. Afrobeats, as a global phenomenon, continues to attract an expanding international fanbase, with streams increasing by 34% year on year in the US market in the first half of 2023.
Michael Ajereh expressed his pride in the artists, careers, and brand built by Mavin, emphasizing the historic partnership with UMG as a continuation of their mission in Africa and globally. Tega Oghenejobo highlighted the strong belief in UMG as an ideal partner for Mavin’s growth, given the diversity and potential of their business.
Sir Lucian Grainge, Chairman & CEO of Universal Music Group, acknowledged Mavin’s role in transforming Afrobeats into a global phenomenon. He expressed excitement about welcoming Mavin into the UMG family, citing the alignment of values and aspirations between the two entities.
