Universal Music Group Acquires Majority Stake in Mavin Global

The acquisition of the Nigerian Afrobeats label aims to expand its global reach and nurture new talent.

Universal Music Group has acquired a majority stake in Mavin Global, one of Africa's leading independent record labels.
The deal, subject to regulatory approval, is expected to close by September 2024.
Mavin, founded by Don Jazzy in 2012, has been instrumental in the global rise of Afrobeats, with artists like Rema and Ayra Starr.
The acquisition includes plans for an artist academy and an executive leadership program to foster new talent in the African music industry.
Mavin will retain autonomy over its strategy and future artist development, continuing under the leadership of Don Jazzy and COO Tega Oghenejobo.