Universal Music Group (UMG) has purchased a controlling interest in Mavin Global (Mavin), a music company headquartered in Lagos, Nigeria.
UMG characterizes Mavin as “the catalyst for numerous Afrobeats artists across the continent.” Established in 2012 by artist, producer, and music executive Michael Collins Ajereh (known as Don Jazzy), Mavin has been instrumental in launching Afrobeats artists both within Africa and on the global stage.
Monday’s news comes approximately five years after Mavin secured a significant investment in 2019 from Kupanda Holdings, a partnership between pan-African investment firm Kupanda Capital and TPG Growth.
TPG has now completely divested its stake in the company, while Kupanda Capital will remain a minority investor and strategic advisor.
UMG has stated that Mavin will retain its independence in determining its strategy and developing future talent. Under the terms of the agreement, founder and CEO Don Jazzy and COO Tega Oghenejobo will continue to lead the company.
The transaction is still subject to regulatory approval and is expected to be finalized by the end of Q3 2024.
Mavin is renowned for its roster of top 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 achieved a breakthrough for the genre, reaching No. 3 on the U.S. Billboard Hot 100 chart. It has since become one of the biggest Afrobeats songs, being the first African artist-led track to surpass 1 billion Spotify streams.
Ayra Starr’s “Rush” was nominated for the inaugural Best African Music Performance Grammy. Additionally, its music video holds the record for the most-viewed video by a female Nigerian artist on YouTube.
Universal Music Group (UMG) announced on Monday that its investment will enhance Mavin’s operations in Nigeria through UMG’s global network of labels and businesses.
Mavin is currently distributed internationally (excluding Africa) through Virgin Music Group, with artists like Rema. UMG highlighted that Mavin and its artists are already well integrated into its network, with multiple signings across U.S. labels. For instance, Republic is partnering with Ayra Starr, and Interscope is working with Lifesize Teddy.
The partnership aims to accelerate Mavin’s strategic growth, creating more opportunities to break talent globally, expand its existing roster’s reach, and develop into a super-serving, pan-African entertainment company.
UMG emphasized two key initiatives: Mavin’s Artist Academy, which trains new talent in music and performance skills, and their executive leadership program, which aims to develop the next generation of music industry talent in Africa.
According to UMG, Africa represented the fastest-growing continent for recorded music consumption in 2022, with Sub-Saharan Africa growing at 34.7% year over year, making it the only region to grow more than 30% that year, according to the IFPI.
Michael Ajereh said: “ I’m proud of the artists, careers and brand we’ve built that have made Mavin the force it is today. In this historic partnership with UMG, we will continue that mission in Africa and across the globe.”
Tega Oghenejobo added: ” With our proven history of collaborations within the UMG family, we have a strong belief that they are the ideal partner for the next phase of our growth, given the diversity and potential of our business.
“UMG is home to some of the world’s foremost music entrepreneurs and artists, making them a perfect match for our aspirations. By collaborating with UMG, we are dedicated to cultivating a vibrant creative environment that propels African music to new heights on the global stage.”
Sir Lucian Grainge, Chairman & CEO of Universal Music Group, expressed, “Our criteria for identifying partners is straightforward: great artists, great entrepreneurs, great people. With Don Jazzy, Tega, the Mavin Global team, and their artist roster, we’ve found ideal partners with whom to grow together.
“Mavin’s brilliant artists have been catalysts in the transformation of Afrobeats into a global phenomenon, and we’re thrilled to welcome them into the Universal Music Group family.”
