In a landmark move set to reshape the landscape of the global music industry, Universal Music Group (UMG) has announced its strategic majority investment in Mavin Global, the iconic Afrobeats label based in Lagos, Nigeria.
This partnership, pending regulatory approval and slated to close by Q3 2024, marks a significant step in UMG’s commitment to expanding its footprint in Africa’s burgeoning music scene and signals a new era of growth for Mavin Global.
Founded in 2012 by the esteemed Michael Collins Ajereh, known professionally as Don Jazzy, Mavin Global has been at the forefront of the Afrobeats movement, championing the genre’s ascension on the African continent and beyond. Under Don Jazzy’s visionary leadership, Mavin has cultivated a roster of artists who have significantly influenced the global music landscape, including the likes of Rema, Ayra Starr, Ladipoe, and Johnny Drille. These artists have not only dominated the charts in Africa but have also made substantial inroads into international markets, underscoring the global appeal of Afrobeats.
The collaboration with UMG is poised to further amplify Mavin’s influence, leveraging UMG’s extensive network to enhance global distribution and promotion for Mavin’s artists. This synergy is anticipated to fuel the label’s innovative initiatives, such as Mavin’s Artist Academy and its executive leadership program, both designed to nurture new talent and foster the next generation of music industry leaders from Africa.
UMG’s investment in Mavin aligns with its strategy to tap into the fast-growing African market, buoyed by a young demographic and increased connectivity. The continent has witnessed unprecedented growth in recorded music consumption, with Sub-Saharan Africa recording a 34.7% year-on-year growth in 2022, the highest globally.
The partnership is expected to capitalize on this momentum, with the Afrobeats genre, in particular, enjoying a surge in global popularity, evidenced by a 34% increase in streams in the US market alone in the first half of 2023.
This historic partnership has been met with enthusiasm from key figures within both organizations. Don Jazzy expressed pride in the achievements of Mavin and its artists, viewing the partnership with UMG as an opportunity to continue their mission on a global scale.
Tega Oghenejobo, Mavin’s COO, echoed this sentiment, highlighting the strong foundation of collaborations with the UMG family and the shared vision for the future. Sir Lucian Grainge, Chairman & CEO of UMG, lauded the Mavin team and its artist roster as ideal partners, praising their role in transforming Afrobeats into a global phenomenon.
Despite the partnership, Mavin will retain autonomy over its operations, with Don Jazzy and Tega Oghenejobo continuing to lead the label. This arrangement ensures that Mavin’s identity and mission remain intact while benefiting from UMG’s global reach and resources. The deal also sees TPG fully exiting the business, with Kupanda Capital remaining as a minority investor and strategic adviser.
UMG’s majority investment in Mavin Global not only signifies a vote of confidence in the label’s accomplishments and potential but also underscores the growing recognition of Afrobeats as a major force in the global music industry.
By joining forces, UMG and Mavin are set to embark on an exciting journey, poised to bring African music and artists to new heights and audiences worldwide. This partnership represents a confluence of talent, vision, and ambition, promising to catalyze further innovation and success in the ever-evolving music landscape.