Over a decade since its unveiling, Mavin Records has emerged as the premier, homegrown powerhouse record label in Nigerian music. Founded by Don Jazzy, the super-producer turned super music executive, the label has grown beyond being a motley crew of well-known artists, with an original roster that included Wande Coal, Tiwa Savage and D’Prince.
Currently, Mavin boasts an expansive lineup that features Rema, Ayra Starr, Ladipoe, and many more, thanks to an equally expansive, highly acclaimed structure. As announced earlier today, that structure has now gotten even sturdier with a majority investment by Universal Music Group. It’s not the first time Mavin has secured external investments to bolster its services and standing. Kupanda Holdings infused a multi-million dollar investment into the label back in 2019, alongside TPG Growth.
Compared to previous investors, though, Universal Music Group is undoubtedly the biggest and possibly the most apt fit for Mavin. UMG, one of the big three labels in global music, has been instrumental in the successes of hundreds of superstar artists across the world, and that influence is expected to carry over in its investment in Mavin.
“This partnership should see Mavin’s growing dominance in African music reinforced by the global machinery of UMG, which will only lead to boundless opportunities and borderless music,” Kizito Ahams, Licensing and Publishing Manager at Mavin, tells OkayAfrica via text.
In a press release on its website, UMG said it will help “accelerate Mavin’s strategic advancement and create more opportunities to break more talent globally, expand the reach of its existing roster and continue building its business into a super-serving, pan-African entertainment company.” The partnership will support Mavin’s Artist Academy, the incubator program where new artists develop not just their skill, but also the non-music demands of stardom. Also in focus is its executive leadership program, which caters to up-and-coming music executives, by providing them with real-time experiences in the world of music business.
As with all UMG investment partnerships, Mavin will maintain autonomy over business decisions, with Jazzy remaining as CEO and Tega Oghenejobo staying on as COO. Kupanda Capital will remain a minority investor and strategy adviser, while TPG has fully exited the business. On the operations side, it’s an indicator there’s no overhaul, rather a consolidation on what’s already been working.
“The Mavin-UMG deal is significant because it’s proven to us that we can develop a sustainable record label business that is artist-focused and heavy on capacity-building in a system like Nigeria,” Lagos-based entertainment lawyer and consultant Oyinkansola Fawenhimi tells OkayAfrica. “This is going to scale the Mavin brand globally, and that will make it a bigger force than it is across Africa.”
The deal is expected to close sometime in the third quarter of this year, and it continues a pre-existing relationship between both parties. Virgin Music Group has been distributing internationally for Mavin, and played a key role in Rema’s global smash, “Calm Down,” officially recognized as the second biggest song of 2023 by the IFPI. There are also multiple signings for Mavin artists across U.S. labels, with Republic Records partnering for Grammy-nominated singer Ayra Starr, and Interscope for versatile rapper/singer Lifesize Teddy.