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  • Entertainment - Celebrity Gist - Gossips
  • Updated: October 06, 2023

Mavin Records Explores Foreign Investment Or Sale

Mavin Records Explores Foreign Investment Or Sale

Don Jazzy

Don Jazzy’s Mavin Records, one of Nigeria’s prominent music labels, is actively exploring investment opportunities or considering a full sale, drawing interest from major players in the music industry.

Universal Music Group (UMG), HYBE Corporation, and financial sector music investors are among those eyeing a potential deal.

The last investment in Mavin Records took place in January 2019 when the label secured a multi-million dollar investment from Kupanda Holdings.

The current proposed deal, reportedly facilitated by Shot Tower Capital, values Mavin Records at over $125 million, with potential valuations ranging from $150 million to $200 million.

However, it remains uncertain whether music publishing is included in the deal.

The strategic move is aimed at securing funding for Mavin Records’ expansion, aligning with Africa’s growing prominence on the global music stage, akin to the success of Latin and K-pop genres.

Regardless of whether UMG, HYBE, or another entity leads the way, the label’s management team, led by Nigerian music legend Don Jazzy, is expected to retain a significant level of influence.

HYBE appears to be a frontrunner for Mavin Records, despite UMG’s connections with some of the label’s artistes.

Rema, for instance, had his hit ‘Calm Down’ distributed by UMG’s Virgin. However, some collaborations involving Mavin artistes may not be directly credited to them.

Mavin Records boasts impressive achievements with artistes like Rema and Ayra Starr, amassing over 1.5 billion global streams.

Rema’s ‘Calm Down’ remix with Selena Gomez alone has garnered a staggering 9.07 billion streams, although some collaborations have not been directly attributed to him.

Globally, Rema and Ayra Starr have made a substantial impact, even though their streaming numbers in the United States are relatively lower.

For instance, Rema’s U.S. collaboration with Gomez represents a fraction of the song’s total streams, at 861.2 million streams.

Mavin Records also nurtures emerging talents such as Ladipoe, Crayon, Boy Spyce, and Magixx, in addition to established artistes like Tiwa Savage, Wande Coal, Iyanya, and Reekado Banks.

Acquiring Mavin Records presents several advantages, positioning the buyer in the thriving Nigerian Afrobeats scene, which has transcended Afropop and Afro-fusion.

This genre, endorsed by global stars like Wizkid, Davido, and Burna Boy, now includes emerging talents such as Rema, Starr, Tems, Ckay, Asake, and Fireboy DML.

The Afrobeats scene is undeniably going global, as evidenced by The Recording Academy’s introduction of a Grammy Award category for Best African Music Performance.

Furthermore, the buyer would gain access to Don Jazzy’s expertise, co-founder of Mo’ Hits Records in 2004 and the owner of Mavin Records, solidifying its status as a leading African record label.

 

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