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In a landmark move for Afrobeats, Universal Music Group (UMG) has announced a strategic partnership with Mavin Global, the iconic Nigerian record label founded by Don Jazzy. Subject to regulatory approval, UMG will acquire a majority stake in Mavin, aiming to close the deal by the end of Q3 2024.
This partnership is a significant boost for both companies. Mavin’s full-service offering in Nigeria will gain global reach through UMG’s extensive network of labels and businesses. Importantly, Mavin will maintain autonomy over its strategy and artist development, with Don Jazzy and Tega Oghenejobo continuing to lead the company.
“The partnership will accelerate Mavin’s strategic advancement and create more opportunities to break new talent globally,” the statement from Mavin Global reads. “We are dedicated to cultivating a vibrant creative environment that propels African music to new heights on the global stage,” added Tega Oghenejobo, COO of Mavin.
UMG is excited about the partnership due to Mavin’s exceptional talent and leadership. “With Don Jazzy, Tega, the Mavin Global team and their artist roster, we’ve found ideal partners,” stated Lucian Grainge, Chairman & CEO of UMG. “Mavin’s brilliant artists have been catalysts in the transformation of Afrobeats into a global phenomenon.”
While the impact on artists like Ladipoe, Johnny Drille, Crayon, Magixx, Bayanni, Boyspyce, and DJ Big N remains to be seen, some artists like Rema are already part of UMG’s global network. This partnership paves the way for further growth and global exposure for Mavin’s artists and the future of Afrobeats.
Source: BusinessDay