What Does UMG’s Acquisition Of Mavin Records Mean For Afrobeats?

Don Jazzy’s Mavin Records is set to be acquired by global music giant Universal Music Group (UMG).

Speculations had surrounded the future of the label, which has produced the likes of legendary singers Tiwa Savage, Rema, Ayra Starr, and a few other top Afrobeats acts, but a press release by UMG on Monday, February 26, 2024, confirmed details of a recent Billboard publication that Don Jazzy was willing to sell.

“Universal Music Group (UMG), the world leader in music-based entertainment, today announced a majority investment in one of the world’s most dynamic and exciting independent record labels, Mavin Global (Mavin),” the press release disclosed.

“The deal remains subject to regulatory approval and is expected to close by the end of Q3 2024.”

Recall that Don Jazzy, who is the founder and chairman of the record label, said during the Zero Conditions Podcast that he was open to selling the company if a deal that allows him to retain leadership was reached.

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

The Chairman and CEO of the Universal Music Group, Sir Lucian Grainge, described Mavin artists as “brilliant” and hailed their “transformation of Afrobeats into a global phenomenon, and we’re thrilled to welcome them into the Universal Music Group family.”

Related: Don Jazzy Reveals He Was Hurt When Wande Coal Left Mavin Records

With the announcement, Mavin is set to become a subsidiary company of UMG, which boasts other subsidiaries like Interscope, Motown, Polydor, Defjam, Virgin Music, and Republic Records.

The acquisition also means that Afrobeats will gain more global recognition through UMG. However, fears surround the possibility of the Dutch-American firm altering the sound of artists signed under Mavin, as full details of the deal have yet to be made public.

For Don Jazzy, selling the company means more money, but fans fear that things could change around the label as he no longer owns the highest stake.