Universal Music Group (UMG) to Acquire Majority Stake in Mavin Global, Propelling African Talent to Global Heights

In a significant move signaling the global music industry’s recognition of African talent, Universal Music Group (UMG) is poised to secure a majority stake in Nigeria’s renowned record label, Mavin Global. This strategic partnership aims to leverage UMG’s extensive resources and Mavin’s track record of nurturing exceptional artists to accelerate the global advancement of African music.

According to reports, UMG envisions this collaboration as a catalyst for Mavin’s strategic growth, providing unparalleled opportunities to amplify the reach of emerging and established talent on a global scale. Mavin Records, spearheaded by iconic producer and label owner DonJazzy, has propelled artists like Ayra Starr, Rema, and Johnny Drille to international acclaim, showcasing the label’s prowess in shaping the contemporary African music landscape.

Expressing his pride and enthusiasm, DonJazzy emphasized the pivotal role Mavin has played in shaping the African music industry. He underscored the label’s commitment to fostering talent and expressed confidence in UMG’s partnership to further elevate Mavin’s influence worldwide.

Under the terms of the deal, UMG will acquire a majority stake in Mavin Global, granting the music giant a significant say in company policies while ensuring Mavin retains autonomy over its strategic direction and talent development initiatives. Sir Lucian Grainge, head of UMG, hailed Mavin’s artists as instrumental in the global rise of Afrobeats, expressing UMG’s excitement to welcome them into the family.

However, the completion of the acquisition is subject to regulatory approval, with the deal expected to be finalized later this year. This landmark partnership between UMG and Mavin Global heralds a new era of collaboration, innovation, and global exposure for African music, cementing its position as a driving force in the international music scene.

Quest: Cris-Edesiri Odjomah

0 0
Article Categories:

Leave a Reply

Your email address will not be published. Required fields are marked *

Verified by MonsterInsights