Don Jazzy, the famous music label owner from Nigeria, is looking at possible investment opportunities or a possible sale of Mavin Records, according to reports. Billboard published a story about this on October 6, 2023.
Mavins Records was founded in 2012, and since then it has become a major force in African music, nurturing top Nigerian musicians like Wande Coal, Tiwa Savage, Reekado Banks, Korede Bello, Di’ja, Rema, Ayra Starr, Johnny Drille, Ladipoe, Boy Spyce, Bayyani, and the recently signed Lifesize Teddy. More than 1.5 billion global on-demand streams have been amassed by the label.
Mavin Records’ calculated action is aimed at raising money to support its expansion. It is projected that the African continent would be the next region to command a significant presence on the international stage. An estimated $125 million to $200 million would be spent on the transaction.
According to reports, industry giants like HYBE and Universal Music Group (UMG) have made substantial bids. The Mavin management team, led by Don Jazzy, is anticipated to keep control over the company’s future course even if the funding comes from a strategic investor like UMG or HYBE or any other label or music organisation.
Don Jazzy is yet to make any comments as at the time of filing this report.