Universal Music buys majority stake in Don Jazzy’s Mavin

The Lagos-based label is home to Ayra Starr, Ladipoe, Johnny Drille, and other artists, as well as successes like Rema's “Calm Down,” the remix starring Selena Gomez of which peaked at No. 12 on Variety's 2023 Hitmakers ranking and is the most-viewed video on YouTube by an African artist.

The transaction is anticipated to finalize later this year, but regulatory permission is still pending.

Established in 2012 by Michael Collins Ajereh, a performer, producer, and executive (also known as Don Jazzy), Mavin has been instrumental in launching the careers of Afrobeats musicians in Africa and other regions.

Top performers on the label include DJ Big N, Lifesize Teddy, Boyspyce, Magixx, Bayanni, Crayon, and Lifesize Teddy. The music video for Ayra Starr's song "Rush" is the most watched music video by a female Nigerian artist on YouTube, and it has been nominated for the first-ever Grammy for Best African Music Performance.

The global network of UMG labels and businesses will help the Mavin team in Nigeria.

Presently distributed globally (with the exception of Africa) by Virgin Music Group in partnership with Rema, Mavin and its roster are already assimilated into UMG's unparalleled network, having signed several artists to U.S. labels, such as Republic for Ayra Starr and Interscope for Lifesize Teddy.

The statement states that Mavin will continue to be in charge of its strategy and future hiring. Don Jazzy, the company's founder and CEO, and Tega Oghenejobo, the COO, will continue to guide the business as per the agreement.

Mavin's Artist Academy trains fresh talent in music and performance abilities and helps them establish relationships within the roster. Their executive leadership program aims to nurture the next generation of African talent for the music industry. These two programs constitute the foundation of Mavin's "mission."

Africa was the continent with the fastest-growing recorded music consumption in 2022; Sub-Saharan Africa grew at a rate of 34.7% annually, the only region to grow at a rate higher than 30%, according to the IFPI. Afrobeats streams in the US market rose 34% year over year in the first half of 2023.

"I am proud of the artists, careers, and brand we have built that have helped Mavin become the force it is today," Don Jazzy declared. Through this historic collaboration with UMG, we will carry out that objective both globally and in Africa.

Tega Oghenejobo said:” 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.”

The Chairman and CEO of Universal Music Group, Lucian Grainge, stated, "We have very simple standards when choosing partners: exceptional musicians, outstanding businesspeople, and exceptional people. We've found the perfect partners to develop with in Don Jazzy, Tega, the Mavin Global crew, and their artist list. We're excited to have Mavin's talented musicians join the Universal Music Group family as they have helped to make Afrobeats a worldwide sensation.

TPG has reportedly completely left the company, but Kupanda Capital will continue to serve as a strategic advisor and minority investor. Freshfields, Udo Udoma & Belo-Osagie, and Bowmans provided advice to UMG. In the deal, Reed Smith LLP and Olaniwun Ajayi LP provided legal advice, and Shot Tower Capital represented Mavin.