Entertainment - February 26, 2024

Don Jazzy: Universal Music Group Secures Majority Investment in Mavin Records

Oluwadamilola Olanrewaju February 26, 2024

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Mavin Records owned by Don Jazzy has entered into a historic partnership with Universal Music Group (UMG), the world’s largest music company. This collaboration is set to propel Mavin Records, and its array of talented artists, onto the global stage, further solidifying the impact of Afrobeats worldwide.

On February 26, 2024, Universal Music Group announced its acquisition of a majority stake in Mavin Records, a deal that is currently awaiting regulatory approval. Expected to close by the end of the third quarter of 2024, this agreement represents a major milestone for Mavin Records, positioning it as a subsidiary of UMG.

UMG boasts an impressive portfolio of labels including Def Jam, Motown, Interscope, and Republic Records, among others.

Don Jazzy – The Visionary Behind Mavin Records

Don Jazzy, the founder and chairman of Mavin Records, has been a pivotal figure in the rise of Afrobeats. His commitment to nurturing talent and his forward-thinking approach have been instrumental in the success of Mavin Records.

Speaking about the acquisition, Don Jazzy expressed his pride in the artists, careers, and brands that Mavin has built, stating, “In this historic partnership with UMG, we will continue that mission in Africa and across the globe.”

How Universal Music Group has been investing in Afrobeats

Sir Lucian Grainge, Chairman & CEO of Universal Music Group, highlighted the importance of this partnership, emphasizing the criteria for identifying partners: “great artists, great entrepreneurs, great people.”

He praised Don Jazzy, the Mavin Global team, and their roster of artists for their role in transforming Afrobeats into a global phenomenon.

With this deal, Mavin Records is set to expand its reach and influence, bringing Afrobeats to new audiences around the world. The partnership with UMG will provide Mavin’s artists with unparalleled opportunities for growth and development, ensuring that the label continues to be a driving force in the global music industry.