Mavin Global, the African label behind many of the world’s biggest Afrobeat hits, is set to receive a majority investment from Universal Music Group (UMG). The deal, expected to close in the second half of 2024, will help to accelerate the growth of Mavin Global’s outstanding creative platform.
Founded in Lagos by Michael Collins Ajereh, who is also known as Don Jazzy, Mavin Global has been a major influence in promoting Afrobeats around the world. Some of the artists on the label’s roster, including Lapidoe, Johnny Drille, and Rema, have achieved global success, with the latter’s single ‘Calm Down’ holding a place on the US Afrobeats chart for 58 consecutive weeks.
Mavin Global’s rapid growth and commercial success make it the ideal choice for UMG’s investment, according to the statement released by the music company. UMG CEO Sir Lucian Grainge praised the label’s outstanding artists, entrepreneurs, and people.
The agreement follows Mavin’s multi-million dollar investment from Kupanda Holdings in 2016. The partnership with the Universal Music Group will help to accelerate the global success of Afrobeats music, which experienced a 34% increase in streams in the US during the first half of 2023.
Mavin founder Don Jazzy expressed pride in the artists, careers, and brand that he has built. The partnership with UMG sets the stage for continued expansion across Africa and around the world, he said. The agreement is due to be finalised by the end of Q3 2024
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