Mavin Records exploring sale or investment

According to sources cited by Billboard on 6 October, the deal, estimated to be worth between $125 million and $200 million, is to secure funding for the label’s expansion, taking into account the expected rise of the African music industry on the global stage, similar to the impact seen from Latin and K-pop in recent years. 

Whatever the outcome of this new deal, that is being handled with the assistance of independent investment bank Shot Tower Capital, the label anticipates retaining control of its creative direction.

Founded in 2012, Mavin Records is led by veteran musician and producer Don Jazzy, and delivers 360-degree label services including management, publishing, sync, production and strategic partnerships. It is currently home to a mix of established and emerging Afrobeats stars like Rema, Ayra Starr, Ladipoe, Boy Spyce, Bayanni, Magixx, Crayon, Johnny Drille and Lifesize Teddy. The label is also credited with activating the careers of the likes of Tiwa Savage, Wande Coal and Reekado Banks. 

In 2019, Mavin Records established an equity investment partnership with Kupanda Holdings, and in recent years has fuelled wholesale chart success for its artists, notably, Rema, whose ‘Calm Down’ currently ranks among the world’s most popular songs, boasting more than 9.07 billion global streams. 

Speaking to Music Business Worldwide last year, the label’s A&R director Rima Tahini said her outfit was focused on building more global stars. Tahini joined Mavin in 2018, having served as a senior associate at Kupanda. “It’s great that we have Rema and Ayra Starr. We want a roster that’s robust, we want to discover new talent in the industry, grow Mavin into a global label and be part of building the systems, the infrastructure around the music [in Nigeria],” Tahini said, adding that Mavin’s goals for the next few years also involve looking into “other verticals in the industry.”