Mavin Records, the Nigerian music label founded by Don Jazzy, is reportedly considering a sale or investment deal, with interest from major entities like Universal Music Group (UMG) and HYBE, News About Nigeria gathered.
The estimated valuation of the deal falls within the range of $125 million to $200 million. Independent investment bank Shot Tower Capital is said to be facilitating the negotiation process.
According to sources cited by Billboard, the move is aimed at raising funds to support Mavin Records’ growth prospects.
It reflects the anticipation that the African music industry is poised to gain global prominence in the coming years.
Regardless of the outcome of the deal, Don Jazzy is expected to retain control over the company’s future direction.
The report states, “Mavin Records, the hot Nigerian label that’s home to Rema and Ayra Starr, is seeking investment or eying a potential full sale with bidding coming from the Universal Music Group, HYBE, and strong interest from music asset investors in the financial sector, according to sources.”
Mavin Records, established in 2012, is a major player in African music, boasting artistes like Rema, Ayra Starr, Tiwa Savage, and more on its roster.
The label has received accolades, including the MTV Africa Music Award for Best Record Label in 2013 and 2014. Its artists have also collaborated with global stars such as Beyoncé, Selena Gomez, Kelly Rowland, and Chris Brown.
The mentioned companies have not provided official comments on the matter at the time of the report, and Don Jazzy has yet to comment on the situation.
The potential deal reflects the growing interest in African music and its potential for global success, similar to the impact of Latin and K-pop in recent years.
