Mavin Records, the prominent Nigerian record label known for artists such as Rema and Ayra Starr, is actively seeking investment opportunities or considering a potential full sale. Sources reveal that Universal Music Group (UMG), HYBE, and various music asset investors within the financial sector have expressed interest in participating in this endeavor.
According to insider reports, the proposed valuation for Mavin Records ranges from over $125 million and could potentially soar to between $150 million and $200 million. However, it remains unclear whether the label’s music publishing assets are included in the deal. Additional information suggests that Shot Tower Capital is currently brokering this transaction.
This strategic move aims to secure funding that will enable Mavin Records to position itself for further growth. Experts anticipate that the African continent is poised to become a prominent player on the global music stage, much like the impact Latin and K-pop genres have had on the international music marketplace in recent years.
Regardless of whether the investment comes from a strategic entity like UMG or HYBE or results in another music label or company acquiring a stake in Mavin or even complete ownership, the Mavin management team, under the leadership of the legendary Nigerian music executive Don Jazzy, is expected to retain its position and exert some degree of control over the label’s future.
Among potential suitors within the music industry, sources indicate that HYBE holds a leading position, with UMG following closely behind. This is noteworthy, given that some of Mavin’s prominent artists are already distributed in the United States through various UMG subsidiaries. For instance, Rema’s chart-topping hit “Calm Down,” which reached No. 3 on the Hot 100 and has maintained its top-10 position for 56 weeks, was distributed by Virgin, an indie distribution arm of UMG. Additionally, the remix version of the song featuring Rema and Selena Gomez is licensed to Interscope. Sources also suggest that other Mavin artists may be associated with Republic, as Mavin is listed under that label within the Luminate system.
Both Rema and Ayra Starr have collectively amassed over 1.5 billion global on-demand streams, as reported by Luminate. Notably, Rema’s collaboration with Selena Gomez on “Calm Down” has reached an impressive 9.07 billion global streams, with 164.5 million and 165.7 million streams in just the past two weeks, as of September 28th. Furthermore, various other collaborations by Rema are also documented elsewhere in the Luminate system, indicating that his overall share of streams far surpasses what is credited to him solely on his artist page within the system.