Universal Music Group (UMG) announced on Monday it has acquired a majority stake in Lagos-based music company Mavin Global (Mavin), known for shaping the careers of many prominent Afrobeats artists.
Founded in 2012 by Michael Collins Ajereh, professionally known as Don Jazzy, Mavin has played a key role in propelling Afrobeats artists to domestic and international success. The move comes five years after Mavin secured investment from Kupanda Holdings, with TPG Growth exiting the business and Kupanda Capital remaining a minority investor and advisor.
UMG emphasized that Mavin will retain autonomy over its strategy and artist development, with Don Jazzy and Tega Oghenejobo continuing as CEO and COO, respectively. The deal, subject to regulatory approval, is expected to close by the end of the third quarter of 2024.
Mavin boasts a roster of top Afrobeats artists, including Rema, whose collaboration with Selena Gomez, “Calm Down,” reached number three on the US Billboard Hot 100, a major milestone for the genre. Additionally, Ayra Starr’s “Rush” earned a Grammy nomination, and her music video holds the record for most views by a female Nigerian artist on YouTube.
UMG’s global network is expected to amplify Mavin’s operations in Nigeria. While Virgin Music Group currently handles international distribution outside Africa for artists like Rema, UMG highlighted existing collaborations with Mavin artists, including Ayra Starr’s partnership with Republic Records and Lifesize Teddy’s with Interscope.
The partnership aims to accelerate Mavin’s growth and expand the reach of its artists globally. UMG sees this as a step towards establishing Mavin as a “super-serving, pan-African entertainment company.” This vision is anchored in Mavin’s Artist Academy, which trains new talent, and their executive leadership program, which fosters the next generation of music industry leaders in Africa.
