Mavin Records, one of Nigeria and Africa's leading music labels, is reportedly exploring options for external investment or a potential sale. According to an article published by Billboard on October 6, 2023, Mavin Records has attracted interest from various investment firms and major record labels, with Universal Music Group (UMG) and HYBE emerging as prominent contenders.
The investment or sale is estimated to be valued at $125 million, with the possibility of the valuation increasing to $150 million or $200 million. Mavin Records has already inked collaborative deals with international entities, such as Virgin Music (an independent distribution company under UMG), which handles the distribution of Rema's music in the United States.
Founded by Nigerian music executive Don Jazzy, Mavin Records boasts a diverse catalog featuring prominent artists like Wande Coal, Tiwa Savage, Reekado Banks, Korede Bello, and more. Don Jazzy has previously hinted at the potential sale of the label, stating that he would consider the right offer and intends to continue playing a key role in managing the company's affairs even in the event of a sale. The news of Mavin Records exploring investment or sale options has generated significant interest in the music industry
Source: Pulse
