UMG secures majority ownership of Afrobeats label Mavin Global

The announcement comes a few months after reports surfaced about Mavin exploring potential sale or investment opportunities. 

Founded in 2012, the Don Jazzy-led label is 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 propelling the careers of the likes of Tiwa Savage, Wande Coal and Reekado Banks.

The deal, reportedly valued between $125m and $200m, aims to secure funding for Mavin’s expansion, considering the anticipated growth of the African music industry on the global stage, paralleling the impact witnessed with the Latin and K-pop genres in recent years. 

UMG’s investment is expected to enhance the full-service capabilities of the Mavin team in Nigeria, leveraging UMG’s global network of labels and businesses. The label has secured multiple signings with US labels, including a partnership with Republic for Ayra Starr and Interscope for Lifesize Teddy. 

The move also represents an expansion of UMG’s footprint within Afrobeats, a genre that has become a global phenomenon, evidenced by a 34% year-on-year increase in streams in the US market during the first half of 2023. Fuelled by a youthful demographic and rising connectivity, Africa emerged as the fastest-growing continent for recorded music consumption in 2022, with sub-Saharan Africa experiencing 34.7% year-on-year growth, according to data from the International Federation of the Phonographic Industry . It was the only region to surpass 30%. 

Mavin is widely acknowledged for its pivotal role in the genre’s ascent, with international interest prompting the creation of Billboard’s US Afrobeats Songs Chart in 2022, where Mavin artist Rema secured the top spot with ‘Calm Down’ featuring Selena Gomez in its inaugural week.

UMG chairman and CEO Sir Lucian Grainge said: “Our criteria for identifying partners is straightforward: great artists, great entrepreneurs, great people. With Don Jazzy, Tega [Oghenejobo], the Mavin Global team and their artist roster, we’ve found ideal partners with whom to grow together. Mavin’s brilliant artists have been catalysts in the transformation of Afrobeats into a global phenomenon and we’re thrilled to welcome them into the Universal Music Group family.”

Under the agreement, Mavin will retain autonomy over its strategy and future talent development while founder and CEO Don Jazzy and chief operating officer Tega Oghenejobo will continue to lead the company. 

“I’m proud of the artists, careers and brand we’ve built that have made Mavin the force it is today,” Don Jazzy said. “In this historic partnership with UMG, we will continue that mission in Africa and across the globe.”

Oghenejobo said: “With our proven history of collaborations within the UMG family, we have a strong belief that they are the ideal partner for the next phase of our growth, given the diversity and potential of our business. UMG is home to some of the world’s foremost music entrepreneurs and artists, making them a perfect match for our aspirations. By collaborating with UMG, we are dedicated to cultivating a vibrant creative environment that propels African music to new heights on the global stage.”